I'll also add that they had $3K of principal paydown and $7k of depreciation which completely ate up any tax they would have had to pay on the rental income.

Quote from @Ate Etim-Edet: @Russell Brazil quick question does that mean that he may incur fines or has to do anything to bring it up to code in anyway?

. $10k was the cost to upgrade to new 200A service on our last purchase which had 1950's electrical, and the seller ate it. 

The last one we did took nine months to get them out and ate up the entire profit (we were flipping it).

We install PEX in homes, hotels, commercial buildings and I never had one problem with the exception of only one job where mice (or rats) ate about 4 holes in the PEX only a few days after we installed it, but we made the repairs and never had one leak after installing hundreds of miles of the PEX piping.

Ok, based on your response, it appears you ate the one getting the deal and managing it which, in my book is half the battle.

@Ate Etim-Edet, a simple notice to the tenants is all that should be needed to make sure rents are paid to you and not old owner.  

Someone else’s dog ate the tv remote and after only a few tries we stopped it.

Petscreening.com did not accept their paperwork and at the end, I just ate my pride and let them keep the dog as an ESA because I didn't want to get further into legal issues.

@James Wachob  that's the one I am thinking of Alex Craig took me there absolute hands down best Fried Chicken I have ever ate  .. especially for a causal restaurant.. we get some pretty good stuff out here at our high end gormond resturants but Gus's well that is special