@Chris Hyde Carl Hamilton, CPAHamilton & Associates, Inc.

You can always add a provision in your lease for your tenants to provide that consent by signing the agreement, but not for their associates showing up on the premises.Based on your description, I myself could be thrown in jail instead of the drug dealers I am recording that are conducting illicit activities inside the vestibule of my own building.

One of the concerns I had when looking at out of state investing in areas with potential for higher vacancies is the associated cost of getting the unit turned over.

And if you decide to sell...give me a heads up :)  Best...Isaac

Which is why I would like to find a club to associate myself with like minded individuals!

Do you have enough disposable cash to cover the $600 you will lose renting the property plus enough cash to cover the fees associated with the refinance?  

Account ClosedThat's funny how you said you want to retain the property and not just fix and flip it, because fix and flip was screaming in my head while reading your post.

Your DTI should be able to support all of your personal liabilities (credit cards, loans, auto loans, leases etc.) as well as taxes, insurance, association fee, and the mortgage payment on all your properties.If your income can support this and you guys get past the preapproved part at the bank, you're good to go.

As a senior associate at a "Big Dog" group, I recognize that the market dictates the margins.

I recommend you come to our monthly REIA (real estate investors association) meetings and learn all you can there too.