Quote from @William Sharp: The only way to legally claim the property is through a tax auction or foreclosure (if he had a mortgage).

Provide Ample Notice: Regardless of legal minimums, giving your tenants more notice than required can help maintain a good relationship and give them ample time to find new housing.4.

Anything with legal 2 home structures 6 minutes from downtown made me interested.

Danielle,I have been passively looking into properties here in Prescott, and nothing even comes close to the 2% rule.

I’m closely monitoring a few tenants as we speak. 1 requested to pay this Friday after payday due to a job change. 1 is $200 behind from last month. 1 got a rent increase but still has this month at the previous rate.

The others were bid pretty close to market value (not much value add).

Just closing the loop on this thread...

@James You need to buy your clients "Runzas" From Runza as a closing gift.

It was purchased from a local wholesaler, then repaired/reno'd, from a single family to a single family with a legal suite.

If any property I own starts to get close to 40% equity, I refinance to get it back to around 20%.