At this point, I see only 3 options1) assign the contract to someone else, meaning sell the apartment (but I will need approval from the developer)2) talk to the developer and ask for a minimum one-week rental (Min City Regulation) at least for the 1st year to get over the bad time.3) to just go ahead and purchase the apartment and suck up any loss I might make and try to get in refinanced as soon as possible with a lower interest rate.What are your thoughts?

If so, let me know what other cities or stats you'd like to see in my next post.

Thomas Tusser 1557This company purported to flip urban Baltimore row houses. from the article above, one investor bought 2500 Hollins street west baltimore for 20k, then spent 20.5k for rehab, a simple Google street view search shows it to be abandoned row houses in worst neighborhood of highest crime city in America.

In the future, a) get a super detailed Scope Of Work and ironclad Contract. b) Do not pay more money as a progress payment than the amount of work that has been performed, that way you are never ahead of the Contr or vice versa.Your options (depending on how much he owes you) are Small Claims Court, the State Registrar of Contrs, and possibly the local DAs office or State AG if the amount is higher ($50k ish)Good luck, let us know what happens.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Hi, I am based in South Florida -- looking to buy first rental property, looking out of state at Markets like Columbus, Memphis, Pittsburgh.Targeting cash flowing properties on the east coast.

@Yusuke Koike if damage was that extensive where the unit is not habitable, check your state/local landlord tenant laws as some just require you let them out of lease, return deposit and refund rent for any time they’ve paid that they can’t live there.

I’ve been running some numbers and the added really nicely.I am an out of state investor in Kansas City MO, and I am based in North Hollywood, CA.I look at couple properties in ZIP 64130 I heard it’s a C class area.I wanted to hear your thoughts about the numbers i put together and if you familiar with the area you can share some Pro and Cons.Thank you fir hanging out here ! 

This is a common problem, but there are several actions we can take to curtail it:Follow the l/t regs in your state to properly notify the tenant about any damages that will be deducted from the security. 

If you're considering out-of-state investing, I would consider the Columbus, Ohio, market.