It seems like a simple thing, but reaching out in BiggerPockets about getting started as a real estate investor is a great first step.

Look  If they don’t pay your going to have to kick em out plain and simple !

Have your new rules in hand upon meeting (as long as they don't contradict with the lease).

This may be a simple question but curious in today’s climate of rising interest rates (mid-2018) , does it make sense for long term buy and hold investors to pay for points to buy down the interest rate or keep the cash on hand instead for additional properties.  

Then he has to decide if he wants to figure it all out himself, find a team (agent, contractor, PM) and manage them from afar (which means lots of time and energy but maybe better returns) or would he rather pay someone to handle it for him so it's just about passive income building with very little hands-on work (turnkey).Living off the income from $140k isn't going to happen, but it's a great start in the right direction.Best of luck (to your friend ;) !

I don't even know how to swing a hammer [I know how to swing a 2-hand sword though].

According to my contractor, the fix to prevent further damage seem to be simple, seal the gap between the trim and window, clean the gutter, and replace the drywall on those areas if needed.

Investment sales started the year off strong with $345 million in multifamily assets changing hands year to date.

Also if the building is getting older and there’s no go to guy than you shouldn’t look around and find a good handy man who can take care of simple problem and affordably 

Simple and free