However, as you all know, lumber prices are ridiculous and appear slated to remain high for the foreseeable future (at least according to futures markets).

It is a privilege to be able to work with you, and we thank you for your business.According to our records, it appears that your lease term is coming up and, as such, we need to discuss your future plans.

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That’s not a good sign.Don't know if it was down temporarily, but the website appears to be up now. 

Tenants would likely need to be evicted for any work to be done on the units, they appear to be pack rats, there is a lot of junk that would need to be removed.

Taxes do seem high but then again I live in CO where the taxes are crazy low compared to the rest of the US...Also, I don't know what the cap rates are going for a class C building in Ann Arbor but it appears they have this one listed at an 8 cap if the numbers you gave are their numbers...while you want to purchase at a 9.38 cap.

Texas laws may vary slightly on this topic from OK so check your property code but this is what I would do:Make a note today that she appears to have moved in.

Something is causing them to appear....You said you did a treatment back in March before she moved in?

@David D'ErricoThe advertisements you see on the BP site are placed by Google and the ads you see will differ from those I see given our geographic separation among other factors.It does not automatically follow form the appearance of such advertisements that they are site sponsors (other than indirectly though the services of Google), nor that the BP team has vetted their presence.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.