Also, a 50K property often comes with deferred maintenance issues.  

We hope you and your family have come through the recent ordeal without any major issues.

Copy of all paperwork for this tenant, lease, notices, move-outs,, service records for maintenance issues. 

That way there's no question about the issue, it's the policy as written and the tenant agreed to it.

Granted, it will be taken care of by the management company so I suppose this should be an non issue if I have a good management company.Numbers wise, these properties make perfect sense.  

Vacant land is a great place because no big issues and you can buy and sell all over the country fairly easily.And since no debt, it is okay if a property takes a few weeks to sell.

When an issue presents itself, my current tenants correct it when it is brought to their attention. 5 out of 9 had to move on because they could not adapt to the new regime when I took over the buildings.

Now, if your PM missed a history of evictions or didn't check all adults who are living in the unit, that's certainly an issue.

The attorney indicated there are foundation issues which are preventing them from listing it yet.Background - I am a general contractor and realtor.

Does anyone in the Carolinas, Florida or New York/ New Jersey area have experience with a similar issue after Matthew or Sandy?