Aw Shucks... thank you  made my day... less debt more equity good place to be in the coming years.

Is that "Joint and several liability" something on legal rental form documents?

Because this product, as long as you secure long term debt, will give you steady cash flow, appreciate, and provide a ton of great tax-saving benefits.  

What is the legal and right thing for us to do as the landlord?

She kept the apartments maintained and heated (one one system and service now) but never rented and legally converted it to a SFH with the town. 

When I analyse a potential property I start out assuming 50% expenses and debt repayment based on 100% financing on a 30 year.

I lost 10% of the debt service ratio for being vacant, otherwise I could have gotten to 75%  91,980 cash out 1,750, processing fee1,606  origination 87,614 house and reno 90,970 Total spend 1010 cash outIn the final analysis, I got all my money out. 

I told him I can purchase the property as is, no need to fix anything. he told me he can't sell the property with that type of problem. im not sure if it has something to do with legal issues or if he just does not want to sell until he fixes that himself. the conversation didn't gave me the opportunity to ask this question at that moment.

Also on whether to retain the tenant or get a new one, it's almost always in your best interest to retain a tenant once you factor in loss of income b/c of vacancy period and then construction period for new tenant), legal fees, broker fees, etc. 

Hey guys!Im currently holding about 7 properties in Houston right now cash. I need to refinance out at 75% LTV, and find a bank who would lend @ 5-5.5% interest. As more units come online, i need the flexibility to re...