Cash flow on day one!

His annual compliance report is clean he says.Owner had his Coam taken away and is the single owner running the show, an hour away from his home base. 

For better or worse, either exiting tenant has the place cleaned or the incoming will do it (I never ask the incoming tenant, it just works it way into the conversation). 

Clean it up, rent it at market rate, and you'll be much happier.

I have some cash coming my way soon and trying to determine if I should use some of the cash to recast some of my mortgages to increase cash flow or not.  

Why would I invest in deals with a 4-6% ROI that will cash flow a couple hundred a month (if I’m lucky) and go through the trouble/risk of property ownership when I can get similar returns from other completely passive investments with practically 0 risk?

@Verna MedlinGo to a lawyer as if you are not on the contract but on the deed it is an invalid contract - BUT if you are accepting payments then they have a claim against both of youYour attorney will probably say return all the $ collected if you want out of the deal or clean up the paperwork and make it a legit deal.

I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation.

I am looking to increase my cash flow to support my family and wanted to learn more about real estate investing.

If you want the long-term play for cash flow, then keep it, but likely, at that price point, it sounds like a flip to me.