My other litmus test comes from my prior cable days, which might place it at 9X to 11X cashflow (NOI), which also places value very near $80K.The capital improvement required in the water distribution system seems like a no-brainer, but absent separate metering, I wonder if you could immediately divide the water bill by the current quantity of tenants and have them begin to pay this immediately?

@David KendallMy first question would be did you research how much parking was available prior to purchasing this property.

Provided that the issuer of securities does not otherwise have knowledge that such person is not an accredited investor, the issuer will be deemed to have taken reasonable steps if:with respect to purchasers who are accredited investors based on income, the issuer reviews IRS forms that report revenue (W-2, Form 1099, Schedule K-1 or filed Form 1040) for the last two years and obtains a written representation from such person that he or she has a reasonable expectation of reaching the income level in the current year;with respect to purchasers who are accredited investors based on net worth, the issuer reviews bank statements, brokerage statements, other statements of securities holdings, certificates of deposit and/or tax assessments and appraisal reports issued by third parties in order to verify assets, a consumer report from at least one of the nationwide consumer reporting agencies to verify liabilities and obtains a written representation that all liabilities necessary to make a net worth determination have been disclosed (all information reviewed may not be more than 3 months old);the issuer has obtained a written confirmation from a broker-dealer, a registered investment advisor, a licensed attorney or a CPA that such person has taken reasonable steps to verify that the purchaser is an accredited investor within the prior 3 months and determined that such purchaser is an accredited investor, andfor purchasers who previously purchased securities in an issuer’s Rule 506(b) transaction prior to the effectiveness of Rule 506(c), a certification that such person is an accredited investor.A simple Google search has a bunch of third party verification services.

Take a look at http://www.law.cornell.edu/uscode/html/uscode50a/usc_sec_50a_00000535----000-.html I found it very informative.As prior service, I used the act to break several leases going back and forth to the Mid East.

If you have purchased a property with mold, remediated it successfully, what is one lesson you learned that you wish you would have known prior to the scenario?

Pam,I mailed him a lease expiration notice about a 40 days prior to the lease ending.As he already expressed his desire to move out, and we worked out a 3 month's time frame for him to do so, I didn't even bother to ask him if he wants to renew.

Regarding the number of letters prior to calling, we received calls from every month that led to purchase so I am not convinced any number of letters does the trick.

Closing was probably not the right term, it was explained as a cost for the attorney to produce the documents for signature.As I'm learning, TMV is something that seems to require an access to a realtors view of the MLS for prior sales.

But I am actually in the process of learning more about HELOCs as an option in case a great deal comes along prior to me getting the next down payment together

this is that time of year when they may not have their 2013 tax return filed yet, the loan officer could be going off a W-2, and when they see the tax return prior to closing, things could change.