I thought to myself what is the worst thing that could happen if I inquire about the factory building.

It's worth hiring a REALTOR that can protect your interests and keep you from making a mistake that costs you much, much more.

South Lansing is our favorite area, the houses are newer, many without basements (1900s Michigan basements are the worst!)

So you can take this at face value - seller made a mistake and fixed it.

Feel free to reach out if you need any help or have any questions during the process and get ready for the best and worst(at times) decision you'll ever make!

This was another mistake we made.

I know they say that student loan debt is one of the worst debt to have.

The absolute worst-case scenarios on rents would be $1700/mo and even at 25% vacancy it would still pencil out at 9% cap rate.  

I have been looking at multifamily properties in my area and when I run the numbers with the current rents, buying for a price 10-15% below what it's listed for, and being very conservative (assuming the worst) with my expense calculations, the CoC returns are still upwards of 15%.

Evicting him is the worst idea, because then you'll never recover the cost.