I have read probably a hundred post and everyone is so nice, friendly and helpful to each other and I think that is so cool.

Is it a finished basement, heated and cooled?

I look forward to the day I can be a landlord in a location where it does not snow.No snow removal here, but number one is the AC isn't working or not cooling enough.

Cleaning unused space, heating it, cooling it, insuring it and paying taxes on it, is just nuts.Join a club and entertain there!

That would be fine with me, except:They'd like to pay $800 a month and comp rents in the area are $1200.I am closing next week and neither the sellers, their attorney, nor their agent have made any attempt to get in touch with me and arrange for the son to be on a lease.I think they're just 'hoping it will be cool' and 'we can work it' out after/during closing, but I'm wondering if they should be out of there at closing, because if I come in and ask them to sign an $1,200/per month year-long lease, they're going to be pissed and say they don't want that and say they'll move out, possibly trashing the place in the meantime, and if I sign him on a month to month for $800 and give him a month to move out, I'm saddling myself with difficulty if he trashes the place or doesn't move out, etc.

Congrats on the upcoming kid, that's super cool.

Immediate upside potential-rents could handle a 20% increas w no improvements; 30% or more with minor upgrades with additional anticipated increases as neighborhoods continues to gentrify.Very cool building that has many updates already (electrical, plumbing, windows).The cons:Roof needs immediate replacement.

Cool good luck!

oh ok cool. that's encouraging to hear. i have no undergrad debt so the thought of it is intimidating especially when i hear about people not being able to pay it back.

It's a cool concept, but I would have some questions before proceeding.1.