If you use rentometer don't assume every property on Michigan Avenue will give you the same results for rent.  

I've never had good results form using the cheap stuff.

If the lease didn't stipulate no smoking, what baseline will you use in front of a judge to determine his smoking resulted in damages above "normal wear and tear"?

Cheaper Than Hard MoneyUsing a master lease instead of a loan may result in a lower payment than the equivalent  loan at a high interest rate or points.3.

I am looking for individual that will take a share of the business that is to be matched with the percentage of your investment into the property.

It simply stated a broken contract would result in a $735 fee.

If you get offered something better, take it back to the lender you like and see if they can match. 

Get ARMED with information and under no circumstances, get into an argument or verbal-shouting match (I know it's tempting) with them as they can become emotional and you have to walk a very DELICATE line when dealing with problem tenants like this.I'm NOT providing legal advice: but if you have a lease (contract law) and they are in default, it doesn't take a genius to decipher who is in the wrong.

I think there would have to be a price increase under new ownership to closer match the more expensive competition in the area.

However, I think If I spend between $6k and $7k to put central air in it, it will match comps in the area up to $75k or so and have a huge upgrade.