Imagine the increase in your holding costs while your property sits without selling, take that money and put it into fixing this.

The problem now is trying to make those big rent increases.

;) I bet the Bel-Air mansion is also in the name of a trust or LLC, and I bet it is in a different name than any other properties they may own ... rich and famous quickly learn how to become rich and anonymous, but the truly smart rich folks never seek out fame in the first place ...

I am seeking for an advice.

you should seek a quote from at least 3 general contractors that specialize in foundations and get to the root of the cause if possible.

Hi, I wanted to get some opinions on a potential rental property. It is a new build townhome in Houston ~1700 square feet. The location (schools, restaurants, crime, etc) is decent but nothing too promising in terms o...

Hi BP Family!I'm new to real estate investing and actively taking action in the Fairfield County, CT market. I'm having trouble finding an attorney who is comfortable with assignments and wholesaling in general. Are t...

inherited" tenants like yours are probably waiting to hear from you, so send out contact emergency info and have them respond and include with next rent payment a updated contact sheet,, I'd make an appointment to tour inside of each unit with condition sheet,, the condition from your date of ownership is now what you use for condition move out.. so once that's completed you now know which unit would be tops on your list to rehab and offer an early out to.. if that's a consideration.. you can of course let all tenants know the rent will increase to $$$ when their lease is up and you are accepting 30 or 60 day vacate notices early, they'll be prepared. 

It has been many years but tax is not increasing much. 

Seek a solid lawyer, hopefully it doesn't cost more than $700-$1000 to get them out in 90 days.