Many of the guys selling tax deed properties are looking for suckers who don’t know what they’re buying......eBay is full of them.

I ran the numbers and even though I would pay 13000$ more in interest, I would generate more money investing 10 years longer than investing the full 800$ a month for 15 years.

That way if they pay the rent amount but not the utility/late fee, we can deduct the utility/late fee amount due and hit them with late rent because they didn't pay the full amount of rent. 

@Chris Bruneau,  A paid off asset, full depreciated with significant gain, owned by folks wanting to exit the landlord business- this is the perfect property to 1031 into a passive commercial asset where the value is the lease and longevity in decades. 

how much you think for a full gut, with roof replacement? 

If the market goes South and they need your money, then they can call the note and you have to pay the full 10 or 20% (whatever that second mortgage is).

My lease also says I am authorized to show it to potential buyers or renters with proper notice.Some tenants fight this and I typically let it go because I know they'll sabotage any showings anyway.

Of course this has to be serious and with solid proof and a judge probably still won't allow unless its more life threatening, If they do not have a lease, then move forward by giving them a 30 days notice to quit ( a full month term) as you are not renewing because you have that relative that is going to move in. 

My goal is to obtain $70,000 in passive income with a long term buy and hold strategy withing the next 10 years.I want to achieve this so that I can comfortably travel the world and gain life experiences, spend more time with friends and family, and pursue any other goals or interests without having to rely on a full time job.

@grayson gist...here's the full article