And the city does impose heavy fines.Also, given the location (Central City), long term rental might be financially challenging to make the numbers work.Good luck.

You‘ll build trust with them as they get to know you and you can grow financially and know that they will provide support.

They are a passionate bunch who really enjoy taking care of their homes and building their financial independence.

The inherited tenant class, building condition, the financials and associated record keeping, bet you can't even find all the leases!

I have found out from court records that the mortgage company has been paid his debts back In August so I am thinking that it is too late to contact the heir and now it’s considered bank owned (Or is It?)

Seems like your debt service would really be cutting into your profits.

Like Account Closed said "banks are not in the business of calling a performing note due" their business is investing in debt and collecting interest, "velocity of money" etc.

There are still good deals out there..Average home prices dropped to ~70% of peak value.So if you keep your debt below 60% of current value, I think you're good. 

My name is Molly Arnott and I am really amped about getting into more investing and finding financial freedom through real estate.

If you do go that route, refinance into long term debt as quickly as possible.Adequate ReservesLiquidity wins when things get tricky.