He has offered up front to have the floors refinished when he leaves.

It needed a lot of work to the "guts" of the house (crawl, electrical, plumbing, etc), but we were able to leave a lot of the cosmetics alone which the bank had actually replaced not too long before we bought it.

If they are invested in stocks bonds or mutual funds are are accustomed to 4-12%...and you double their return...you're likely still leaving PLENTY of return for yourself.

@Patrick Frairei feel like i suggest this in every rentback situation, however, it may not work as well in this situation, but have you considered twlling them to leave $5-$10k in escrow with the stipulation that it be used to evict the tenant if you arw forced to evict. if you give them some extra skin in the game, they will come back and help get her out in a year

The goal is to achieve financial freedom via buy & hold multi-family strategy to allow both myself and my wife to eventually leave our 9-5 jobs.

If you find this deal interesting and can offer and info/referrals or have the means to lend/invest, please either leave a post or send me a message and we can discuss further details. 

This is as opposed to leaving it sit empty while I keep trying to sell it.

Hi everyone,I have a situation happening with my rental, and since I'm new at this, I don't know what to do. I'll try and explain in detail:Signed a 1 year lease with male/female (let's call them Jack and Jill) friend...

But now I have $45/mo for PM, $45/mo for vacancy, $45/mo for capex, $258/mo for insurance & water/sewer, and maybe $40/mo for property taxes...and now I'm looking at monthly expenses of $433/mo, which leaves me with $17/mo positive cash flow.

When she leaves the house, the mortgage is called.