@Derek E. sorry you feel that i am greedy, you do not even know me, quite truthfully that is a tough position to be in. chances are i probably would give the money back but i was giving the OP a different view and a way to go about it if he needed to hold onto the money. what if this place was sitting vacant for a while and money was being lost, but finally someone rented it that would help you pull from your losses, you may be in need of that money, you do not know everyone's financial position. i think the OP would still be doing a generous thing by letting them out of a 2 year lease and not claiming they had a financial obligation, which they may not pay, then you have to go through the eviction process that would cost you money. we can all sit behind the computer and tell everyone how bad they are, as this world seems to do nowadays, but we should not judge other people because of some misinterpreted advice and some holier than though attitude. if you look, this is the OP first post and maybe new to investing, all he is looking for is different views, i am certainly not going to tell the poster what he should do, because we all have different views on how things should be done.

BUT I only used that rule after I analyzed a dozen properties in my local market and found that the ones that had good cash flow had at least a 1% return/purchase price.That is to say that the "rule" is not so much a rule as it is a metric that can help with judging property at first blush.

Thankfully she was behind on rent and had given (with a nudge from me) notice, so I could declare her apt and tenancy abandoned if she left for 1 day.  

A judge may side with him citing your "technicality" as excessive.  

Company came out, tested and declared it could be "cleaned and sanitized" but the stains, which might be rusty water or pet urine, can't be removed. 

Do you typically put your bid in for less to be safe,  judging that there may be more work to be done?

The most common way a bank would find out is when they receive a copy of the new insurance declaration showing a new insured name (the LLC instead of yours). 3.

Depends on your local landlord tenant laws.Pro: Got a year’s worth of rent up front.Cons: Can’t kick her out for non-payment of month-to-month cause judge will say she pre-paid you.

Judging the property by the condition of the outside, I'm willing to bet that each unit is in in need of a major overhaul before allowing market rent. 

Remember because you are licensed you are consider a professional in the eyes of the state and your potential clients - judges and others - you now have lots of responsibility to --Know the market and the valueHow to be a fiduciary to your clientsTo counsel you buyers and sellersto understand financingHow to spend your brokers money on market a listing when you get oneOffice politics, floor duty, splitting commission, Buyer Brokering, collecting retainers ReferralsAttending meetingsAbiding to all the laws of your office, the state and anyone else who wants to beat you up!