My first question would be why BK and not closer to homesecond question would be HOA related, cost, assessments, condition of property, not just your specific unit, but the grounds as well, parking lot repavement could mean a huge assessment shortly.

If I would've asked a lawyer, then why would I have logged onto BiggerPockets?

Mark Kohler who wrote "Lawyers are Liars" did an hour and a half talk on taxes and it was the most interesting one I've been to yet.

However, they only paid $600/mo. at their last place so I'm not sure if they will be able to keep this up.Then one of the two remaining tenants sent me an email hinting indirectly about what would happen to the security deposit if they had to move out before the end of the lease.I am thinking of two options:1) telling them I will let them out of the lease early if they stay at least until January 1st (so I don't have to deal with the holiday vacancy problem) and stay current on the rent until then, and I will give them back the deposit if the place is in broom clean, undamaged condition, as per the lease.2) lower the rent to $800 to keep them there (I haven't had any real issues with the two remaining people, and they are taking good care of the place).

Would it make sense to stretch out the rehab timeline a bit rather than have the house sit empty, either in its unrenovated or renovated condition?

I've met Mark Kohler and heard him speak and would agree he is a very astute CPA/lawyer when it comes to real estate law.

Any insurance claims for damages to the property were settled when the property was restored to full operating condition....Not always.

The deal for the guy in California will be completely different from us that are in the midwest.I used to watch Flip This House, and it amazed me when they showed the flippers in California, they would buy a 3 bed 1 bath 900 sq ft house in horrible condition for $250,000 and then sell it fixed up for $400,000!

However, it states "Needs some TLC, as-is condition".Any idea as to why an FHA loan would not be acceptable?

If they caused a problem, they should fix it or pay if someone else has to do it.Sounds to me like you've bought a property in poor condition and the PM is nickel and diming you for a little extra every month.