We have a move-out instructions packet that makes it clear what the tenant needs to do, including clearing out all belongings and leaving the unit in the condition it was as move-in, less wear & tear.7.

It's not just that you'll have rehab expenses from wear and tear, you may have significant updating expenses bringing your property up to the current market where you assume rents should be.After knowing what time lines are for the tenancy, I'd begin with a notice to inspect the property first and really know what you have, inside and out.Your tenants aren't Spring chicks, they are middle aged at the youngest and may be hitting senior levels or perhaps elderly as well. 

Both Colton and Rialto have a lot of historic homes that are near tear down status and are the small 2 bed 1 bath on a small lot which isn’t today’s modern preferred floorplan so might be tough to rent out and compete with an apartment.

When she gets to an experienced landlord and he kicks her out right away she will likely tear up his unit in frustration.

Say the other person said something they didn't, then tear it down.Argue with the LAW not with me.

Did the tenant leave the property in the same condition as when he/she started the lease (excl. normal wear and tear)?

@Tim Lee, your offer should be no more than: Land value, minus tear down cost, multiplied by 70% (ie. same as any Flipper working out their margins, but, based on 70% Land value ONLY)!

Have anyone ever invested in a complete tear down property?

Cuz I've been sitting on Zillow since it came to existence, and I do see that some houses sell for really low, but those can be usually attributed to being sold within family or friends or something, as there is no record of them being listed for sale, and anything that was ever listed for sale in a decent neighborhood and not require a complete tear down wouldn't come close to 2%.I've searched, FL, CT, PA, NJ, NYC area, NC...

They the former landlord knows what they are doing and can provide you with a move in-out inspection form, then you are in good shape, but when it comes to the tenant finally leaving you don't know what you can actually charge to them as move out expenses, and what is actual normal wear and tear.