Where I live, most people who have reasonably desirable houses near a college or university know what they have and don't want to give it up.

Greed is an intense, aggressive desire and active whereas fear is inhibiting or causes immobility.

But I also had a desire to do more, I wanted something of my own, similar to my lawn care business.

Because I buy with a group, I need to make sure that I can force a coc return that is desirable for my potential investors.  

I would send them notice of three violations. 1) lease says no pets...get rid of the cat before it destroys the property.2) stop smoking on the property or face eviction, offer to release any smokers from the lease.3) cure the insect infestation immediately.Inform them you will me making regular inspection visits and expect the issue to be resolved.Your other option, if you have no desire to inforce your lease is to tear it up and write a new one that you do intend to inforce.

That said, I think someone bringing this place to the 21st century and filling it with desirable people would be very helpful to the community/city.

That's why they want to get rid of it.My most expensive property right now is an old single-family rental that was in a C-class neighborhood which has since turned into an extremely desirable neighborhood for the young urban professional.

The Seller and/or the Buyer desire to have services provided by the Consultant.

This house was in the not so desireable part of Phoenix--- we live in San Diego. it was an experience.

A little dose of reality for those anxious to "get into the game".As a licensed Property Manager for about 12 years, averaging 500 units managed, in spite of best efforts there has been occasion to encounter a less than desirable tenant.