I'd begin advertising/put out the For Rent sign to start screening new tenants and I'd begin discussions about how I understand his problem and if he'll clean up this and that really good I'm happy to help by not pursing them for the rent owed if he leaves the keys on the counter and is gone by X date. 

I also had to explain to each the whole purpose of doing this: income generation without drawing down the capital producing the income.

You can go pretty deep here, but stay focused on what matters: will you be able to generate the stream of cash flow that you are buying?

As long as it’s legal & the guest has bedroom, kitchen, bathroom & you price it accordingly you can generate some incomeI would put a note in the VR listing mentioning that it’s an attached property and loud disruptive noise will not be tolerated.

Hi BP members After reading the posts, I’m confused I’m interested in investing in rental properties, but again couldn’t find a good deal that generates positive cash flow, unless short term rentals So , what do you guys advice, look for another market, or can someone assist in finding cash flow generating properties Thanks

Purchase price: $45,000 Cash invested: $100 Sale price: $65,000 We cleaned the carpets and relisted it.

You should see if the seller will lower the price.....THEN when you close on it see if you can raise rents.Just because it was built in 1989 you never should "skip over" fees such asProp Mgmtvacancy  (Yes it is occupied now but it won't always be)insurancerepairscapexof course debt service (mortgage)lawncare, cleaning and maintenance (Different from repairs)trashDo your tenants pay for water and sewer? 

A few things with Allure that I noticed is that the seams must be clean and dust free, to the point I make sure we put the wax paper the boxes come with over the seams unless another piece is immediately installed, and you have to use a weighted roller or equivalent over the seams to really make sure it sticks hard.

I replaced the hardware in shower, did touch up paint, and a deep cleaning then sold it in less than 45 days for a profit to the IRA.

cleaned and placed tenant What was the outcome?