Just weighing my options.Mortgage on $240K at 75% LTV would be about $800 monthly PI and would net us $180KIf we eliminate 1 car payment and the furniture, that would net us paying $200 monthly more than if we kept those items under payment terms.

The other item that your tenant might want to sue you for is an injury on the premises.

I would mention that I had the letters and see if he wanted them.I have offered or returned items in the past most folks are surprised only ran across one nut who had rented a place 30 plus years before from a couple we got it from.They had stored a lot of stuff in the attic I was warned she would be a problem and to keep what I wanted and trash the rest but I insisted on returning the stuff so I called and I hauled the boxes and luggage to her  She started with calling me a thief,actually called the cops in the small town saying I robbed her That I kept antiques coins other junk(cop got a kick out of it and said I shouldn't have gave her anything back)her husband said that they had forgotten about the junk  She told people in the area I was a crook for awhile  lol Later she went to realtor school and offered to help me find property

What defines 'PIG" is functional obsolescence, age, CapEx overhead due to the previous 2 items, class of tenant attracted to location and structure, etc.$30,000 in SFR space buys 1 type of thing

It states that 'tenant shall pay for all utilities, cinluding, but not limited to: electricity, heat, telephone, fire alarm changes, heat system maintenance costs, janitorial and cleaning charges and snow removal from xxx street in front of premises. and then in another section goes into more detail that I shall be responsible for 'normal maintenance of such items including, but not limited to heating and air conditioning systems' He said that the heating system is only two years old and that if something was broken beyond repair it would be on him but it is written out and sounds like there should be more detail. opinion? 

JV With the Seller - Minor RehabDeal Details - Granny's House ARV $300K40 year old house - Free and Clear, good neighborhood, all major items in good shape, from roof to foundation to HVAC.Problem, the house is dated.  

Now I've reached a moderate point where I still see the dollar signs, but they're itemized and arranged in rows and columns, cash in and cash out, risk and reward. 

Here are some steps to get started.Step 1) Develop your Business Model (Who is your ideal seller, buyer, neighborhoods, etc)Step 2) Build a Team (Leverage their experience, Realtor, Attorney, Contractors, Surveyor, Home Inspector, Environmental Contractor, Architect, Structural Engineer, Stage, Photographer, Title Company, etc)Step 3) Understand your market like the back of your hand (Have a Realtor set you up on HOT SHEETS so you get automatic listings sent to your inbox and you can start getting a pulse on the market)Step 3) Find a Deal (Package the deal and show supporting evidence that it's a good deal, get an appraisal if you have to) Include the following: Company Bio w/ your team members on it, Property Details, Property Tax Card, Scope of Work, Pictures/Video, Comparables, Financial Analysis, Due Diligence Items, and Contact Information.Step 4) Find Private Lender Prospects- Sphere of influence, networking events, ask for referrals, ask CPA, ask attorney, etc.

It is a 0% interest loan that will do things like de-leading, windows, roofs, and other items to bring low income families housing up to snuff.Some towns seem to have a 15 year forgiveness clause built in.

Other issues include breaking the shower head, locking herself out twice in one week, leaving personal items in the hallway, leaving personal items outside with the trash and getting upset when they are taken out with the trash, moving a cat in when it is prohibited on the lease (the cat is gone now), and using the oven for heat  (with the windows open).In the past I have refused to renew over late payments and bounced checks and a nasty attitude, and over moving in a girlfriend and refusing to put her on the lease, I feel it is time to move on with this one as well.