If you have handled everything correctly, being strong when needed to be, and doing evictions when needed, the Tenant will feel secure because the Tenant will know what is expected of them and will feel comfortable and will want to stay.

That said, I'd like to raise the rent by $25-$50 per month and put them on a 12 month lease with the condition that if they found their home, they can move out once we find a replacement tenant (and we would focus on securing a new tenant ASAP).  

The property management is projected at first at 10% by an outside company and then projected to be performed by the buyer at 2%.  

Don’t allow tenants to move into the property unless they have rent and security deposits PAID IN FULL!!

It is our worst performing property.  

You should talk about to your tax man and come up with a % that your going to consider personal vs rental property as I’m sure you know this is very important come tax time.Be sure and remember your security deposits as well, you don’t want to mix that money up either.

It is on a steep hill and right on the 2lane Kuakini Hwy....but it performs well.Then a Volcano happens with the subsequent media hype.

It is on a steep hill and right on the 2lane Kuakini Hwy....but it performs well.Then a Volcano happens with the subsequent media hype.

As far as the deferred maintenance, we just performed a full inspection on all of the units and the property was in good condition.

So, I borrowed $15k from my roommate for earnest money to secure the property, advanced another $15k or so from my credit cards to cover points and closing costs, and advanced another $20k buffer (using 0% interest promotions on the cards -- I also had perfect credit), and bought it and celebrated.I had a contractor lined up that was a referral by my realtor, who had sold me my own home.