@Jerry Johnson -- I would follow these steps:Local laws: Some counties have rent control regulations, so confirm if you can raise the rent or whether you have limitsLease agreements: See if you can get a copy of any lease agreement / terms with the tenants.

As I said, I'm a little lost where to start with thisI'm just a little lost what to do...

My goal is to control 5 million dollars in real estate with both multifamily and single family units.

I lost the house because of their delay so that agent lost their client and a nice commission on the house I bought a few weeks later.Allen

Remember you don't have to own a property to control it.

I would verify with employer if possible but this may just be for entertainment value as this couldn't be verified until after he lost his job or moved out. 

, eviction costs ($500-$1,000 per eviction, plus damages, plus lost rents), property tax increases (due to jump from $200k building to $500k that you paid), etc.I hope this helps you a bit in analyzing this and other deals.

I've lost more money on houses that cost me less than $10k than any other homes I've ever purchased hands down.  

The other realtor talked me out of student housing because her students drove an SUV into a dining room and others took batteries out of the CO and smoke detector to put in their controls!!!

Toronto is way out of control .....Think about it wages are not changing, yet the home prices are skyrocketing....any single family home in TO is 1 million min.... unless everyone in Toronto is a millionaire these days and making $250k plus its just a big credit bubble....I sold my house at Bayview and Steeles for $1.2 million and it was average at best....The house in my eyes should have been worth $400KI currently reside in a exec townhouse in Richmond Hill which I bought for $300k and is now $900K its nuts ...predicting the correction impossible....play safe in these crazy times...my guess is 30% over valued.....FYI in 2008 i bought a $400K Condo in Las Vegas for $125k so the corrections can be severe.....people in Toronto think it will never happen.....lets seeJust my 2 cents...:)