If places like yours are sitting at $2200 with no traction, you’re taking on unnecessary risk, especially as a first deal.

So a loss of about 55k We did a lease to own option so I could immediately take over expenses but keep their primary resident loan and interest rate.We agreed to a deal which would cover all their expenses at closing, their remaining loan balance, and $45,000.

I would also have a general contractor take a look at the damage and get an estimate from them.

Generally all months other than Sep-Nov are profitable. 

I am not able to take equity out of my condo because it is currently on the blacklist due to HOA fixing the roofing and a Fannie Mae rule stating, if more then 50% of the condos in that community are owned by investors, I may not be able to refi.

My role in this partnership will be to provide full financial backing for property acquisitions and investments, while the agent takes charge of identifying, negotiating, and managing profitable opportunities.

But 70% isn't working nearly at all. 

Just one month of vacancy a year takes away any cashflow you would have. 

Happy to take a deeper look.

I don't know why anyone would take a chance on having a serial killer under their roof.