It's improved every year since then and is the place to live these days.

But the real estate market has improved in most markets over the last 6 years, so banks and mortgage lenders are tending to utilize short sales and allow foreclosures to proceed instead of making concessions on behalf of delinquent homeowners.

So once I have no friends, and focus on self improvement it's easier to find better friends.  

I think it makes a difference if they have been a long term tenant (years) and this is the first time they haven't paid versus a newer tenant who all of a sudden isn't paying.  

I know it costs money, but after it's all done you will be glad you did versus having the tenant take advantage of you.

All of those would greatly improve your soft costs. 

So here's the combined numbers for both props on a monthly basis.Purchase Price For both Properties: $120,000Gross Income (both properties): $5,965Gross Effective Income (10% Vacancy rate): $5,368.50 Net Operating Expenses: $2741.31- Cable - $50 (it's gerry rigged)- Water - $435- Electricity - $450 (3 months during the summer its $800 a month)- Dumpster Fee - $185- Fire Insurance - $41- Property Mngmt - 7% (I will use professional management)- Taxes: $363.34- Maintenance: $800Net Operating Income: $2,627.19Capital Improvements: $25,000 (roof, foundation, paint, flooring)The owner combines all expenses for both properties because they are side by side.

I see the growing potential in the rental properties around the campus area, especially since multiple deals have been made by Lex Wexner himself to improve the streets close to OSU.

I also saw this post and it seemed like more of a hassle, and higher interest on the rental equity line of credit versus a primary residence. http://www.biggerpockets.com/forums/50/topics/1133...Your thoughts?

Deferred maintenance or capital improvements?