I would effectively be loosing 10k since that is the principal I have paid down so far on my current loan after 1.8 years + the 10k down payment at closing.Or should I just plan to sell it in a couple years and use the profit for a fat down payment on my next house and also avoid taxes from selling my owner occupied home?

Then i loosely look at the cash on cash return.

If LL sues and looses, T should not pay LL's attorneys fees.Re: utilities - Side with LL.  

Each LLC must be a contained financial entity -- any looseness and other entities and individuals can be gone after. 

Hi Banjamin,Pretty building.You say the concrete is "Cracking" which is different than "Spalling" --terminology matters in concrete.If this is a concrete pad up there, you might want to have a concrete stair company come look at it (and the concrete steps).Check the whole thing for looseness and wear and tear.Concrete steps sometimes go bad and need to be replaced, but if the concrete landing is "Cracking" it might come crashing down (or pieces of it) with the upstairs renter landing on the head of the downstairs renter (probably 2 lawsuits).It looks to be on painted 4x4's in the front...Just a (1,000 lb) slab supported in the front and back that is cracking...If it were mine I'd get that looked at by a professional.Good Luck!

I went to get a survey done but 2 companies have had trouble finding the deed with the metes and bounds.

You must be misunderstanding what I stated as any experienced syndicator knows they must verify that an LP is accredited for Reg D 506(C) syndications and even in Reg 5 506(B) they are still bound to verify the investors experience and financial ability to fund.

IE new tenant complaining of dead light bulbs, light fixtures painted over, missing dryer hose, steps loose, etc.

Because of that income our tax guy is stating we loose all our write off benefits from our 1 rental and is actually discouraging us ( tax wise) from further investing.

My lock rarely looses connection.