This could be a $300,000 suit waiting to happen, specially because they wont spend a dime suing you.We pay around 20k (up to 50k/year payroll) to have work comp every year, together with GL and in my case, more than that because our company has extensive insurance coverage that gets layers and layers of protection for both clients and contractor.

If it was your deal, was it a straight option or did it include extensions as well?  

It looks like a you did quite an extensive renovation as well.

We're buying at around 7.5% cap rates for B deals (late 1970s construction, recent extensive renovation).  

Long story short, I signed a 1-year extension to stay with my current PM and am placing one of the under-performing properties for sale.I'm now considering branching out to Vacation Rentals either in my local area (Carlsbad California / North San Diego) or Hawaii.

With the passage of Dodd-Frank, and the extension of fair debt collection statutes (both state and federal) to, not-only third-party debt collectors, but to owners of that debt as well, the regulatory bodies have exhibited their intention to continue protecting the consumer.

If these areas were so rock solid you would not be able to buy a board up or a home that needed extensive rehab because its been a rental.One does have a much safer play from out of state when you go up the food chain it just makes Logical sense the best tenants want to live in the best homes and best neighborhoods with the best schools.. 30k in the Inner city of ANY major metro area is not were these type of homes are found...

There is no extension or new legislation that I'm aware of.  

Have T/B fill out lease agreement  w/ attorney    a) 12 mo lease w/ 2 12mo extensions  b) 1st & last month's rent 8.

I was keeping $5000 when I had two and it was good because I had to have extensive HVAC work done on both in the first year.