I wanted time in my garden.

Hi,I just bought my first place a two flat with a garden unit in Chicago.

My personal rule of thumb: if the rent increase will be more than 15% then I prefer to terminate the current renter and start fresh.

These properties are often under performing and difficult for the owner to refinance or sell, providing a cost basis including capex that is well below the going rate for garden style multi-family.

Specifically, I'm looking for a 3 flat built in the 60's that has 2 - 3 bedroom units with 1.5 baths and ideally a 2 bedroom garden unit and my budget is 450k but my mind is open to ideas.

You could manage the gardener and just past the fee onto the tenants.

I feel like taxes are too high here in the Garden State.

Maybe if you do that, get the carpets cleaned and maybe a fresh coat of paint will do it.

When their lease comes up, I don't let them renew and start with a fresh tenant.If it's attracting pests, interefering with neighbors, or causing damage to the home, they are given a verbal and written warning with specific instructions for cleaning, a deadline, and a scheduled follow-up inspection to confirm compliance.

The previous homeowner had decided to take a job elsewhere and start his life fresh and really didn't want to deal with listing the home or cleaning it out How did you finance this deal?