Purchase price: $53,000 Cash invested: $96,000 3bed/2bath, 2-car garage, 1412 sq ft, 1952 yr built - SFHPP: $53krehab: ~$44kAll-in: ~$97k (PML $90k)Appraised: $142k75% LTV: $106.5kcashout refi after closing fees: ~$102kCurrent rent: $1020 ($995 + $25 pet fee) What made you interested in investing in this type of deal?

Don't forget Pets are NOT a protected class, you can say yes to one persons dog but no to anothers cat/dog or whatever.

In either case, I would give them BOTH notice that you are ending their tenancy but offering a new one upon them completing an application (so you know who is there) and signing a new written lease (even if month to month, that way you can have such things as no pets no smoking etc) even if you offer them rent at the same rate.

Plenty of job opportunities abound that are under $50k/year.Gastonia seems to have a larger land mass which includes many areas of trees; curvy country roads; mountainous terrain in parts of town; several town Burroughs with a country feel; and scenic views that depict a historic past and city improvements that suggests a progressive future.North Carolina has an extensive health system that consists of urgent care facilities in certain parts of both cities.

Asked questions like do you smoke, do you have pets, eviction/criminal record, number of people moving in, gross monthly income, etc. 

Or for the future you could add a clause to your lease in the pet section that addresses excess barking and fines them additional fees if the city issues a citation, or however you want to word it that works for you.Good luck

@Kimberly KimA couple things - While you did not live in the property for 2 years, you may still be eligible to get a benefit from a partial section 121 exclusion.There is a partial section 121 exclusion available for property owners who sell because of health, employment or unforeseen circumstances.We would have to determine if you would fall under the unforeseen circumstance situation.Some items that qualify for unforeseen circumstance would be giving birth to children(and moving to a bigger house) or getting divorced.

You can set up your chart of accounts to track the different income for the rental (ie Rent, application fee, late fee, pet fee, etc.), expenses like tax, insurance, interest, repairs, turnover expenses, and also the usual admin & overhead expenses.

She stopped paying rent and tried to blackmail me by threatening to file a report with the county for bogus health and safety violations.

Address their issues as a responsible landlord and charge them for their pets if you charge a pet fee in all of your rentals.