I have Section 8 tenants in deep east Oakland right around the area he is talking about and those Section 8 tenants are a gold mine when they are properly screened.

Part of this has to do with the 2040 plan and zoning laws in Minneapolis proper. 

In order to evict you need to send proper timely notices.  

In episode 85 of Straight Up Chicago Investor podcasts, @Mark Ainley talks about how in the last few years you are required to not pull credit/background check until the initial screening is approved. He said he'd put...

Great ROI but only when done properly, but of course not as steady as multifamily homes.  

We've gone back and forth with too many agents that have brought us "great" applicants who were more concerned about getting their commission than screening properly. 

PossePresentation=BusinessLicenseSearchByLocRent&IconName=Contract_Mag.pngOtherwise, you may be looking at a protectional zoning board hearing and obtaining variance, certificate of occupancy and more documents to make it legal and have proper rental license.

  $125,000 - $40,000 = $85,000 less realtor fees to sell it, and will a lender finance it in it's present condition.Also, those pier and beams go out of wack all the time and maybe just adjusting them will fix it.Some of the older homes are jacked up with all kinds of automobile junk yard scissor jacks and Auto Zone bottle jacks, piles of rocks, stacks of 2 x 4's on grade, wooden shingles, tar shingles, etc... vs proper peirs.So maybe one of the renters (or one of their friends) crawled under there and removed the jacks to use on their car repair or sell at the pawn shop for beer money and now the floor bounces.Meaning get a 2nd opinion from a pier company (that's legit, has an office and a website, etc...) and have them confirm the ROT--if any.Because the floors do rot (sometimes) and also the piers go out of wack and sometimes also sometimes disappear into thin air--and no one knows what happened to them.Getting a 2nd opinion on if there is rot--with cell phone pics of it--would be smart--if none then adjust/replace the jacks.Good Luck!

Lead paint should not be a big deal, just encapsulate it properly.

Unfortunately, the internet has made every worker very well-informed in regards to the laws and the millions of dollars workers can get and all they need to say is they breathed in some asbestos, whether or not they really did.The proper thing to do is to get asbestos testing before you smash down plaster walls and get an asbestos clearance from the testing company.In California, the Air Quality Management District is a huge $50 million building with maybe a thousand workers and not one penny of the AQMD comes from a government agency.