Bought our first rental property late last year- a vacant, second floor 2 BR, bank owned condominium.  Needed remodeling, i.e. some carpeting, painting, kitchen appliances, countertops, but overall not in bad conditio...

All of these companies (and several others like The Michaels Organization, NFI, American Water, Lockheed) already existed in the south jersey area...so there isn't any new job growth causing for Oaklyn/Bellmawr to grow any more than they already were.

The students that where put on wait lists to get in and where accepted last minute, causing them to scramble to get everything in place.My gut tells me you want to close on a house in April, and be ready to sit on it through the summer if need be.

We would be depending on the rental income to pay most of the mortgage/taxes/insurance, but are concerned that Galveston may be too saturated with similar properties and that we might have a hard time getting enough renters to earn that income.We'd love to hear from others in the area who host STR property.

I am concerned about calling them back and letting them know we want them out regardless as this could lead to property damage.

The reason I am so concerned about them being commercial is because I know that you have a lot more control over the value (using NOI) than you do with residential (determined by market comps).

Yea my biggest concern is getting sunk on my very first deal.

Those will probably be a lost cause should you not close on the house.

It is causing problems with what seems to be just one unit in the building.

So far he doesn't seem concerned though.