Plus it becomes a norm for my tenants and they usually anticipate it.Only one tenant gave me an issue this past year and I reassured them that I wouldn't raise their rent anymore than $25/yr.

Again it isn't enforced necessarily, but if there are issues at the home that will be one of the codes at their disposal to shut the property down.

Typically, they may be more willing to overlook some issues, like current transitional neighborhood, etc, they sometimes have enough cash and other non-descript income to afford a non-refundable option consideration payment, along with somewhat higher than market rent, which would hopefully cover your holding costs.

Wondering if anyone's ever ran into a similar issue where the ordinance is different than what they're actually doing or calling for.

Purchase price: $160,000 Cash invested: $28,500 Fixer house with foundation issue.

Keep in mind, unexpected issues may arise, so stay prepared to adjust and adapt as needed.

Some tenants I have gone months without talking to and only talked to them because I haven't heard from them in a while (even though their payments come in electronically with no issue).

To rent I face the same issue.

Move it onto the street, it will be towed and charged to the owner based on the vin number.Unfortunately you are paying the price for not issuing the eviction notice September 2nd.It is a major mistake for any landlord to operate their business on the principal that a tenant that pays on time is a "good tenant" that deserves special considerations.

I think the risk of you having a prohibited transaction (extension of credit and not using a nonrecourse loan) is the real issue and not necessarily UBIT.