Congratulations on your purchase.I just entered into a somewhat similar situation myself a couple weeks ago when I purchased a duplex and found that one of the tenants in the downstairs unit (which needs moderate rehab and who had supposedly been evicted) was still living in the unit.My approach was first to talk with him on the phone (less intimate/emotional than an in-person meeting) and offered him the equivalent of ~80% of a month's rent to vacate the property.

Just enter in the following formula and it will tell you what the remaining loan balance is at any point in time, with which you can subtract it from the original balance to see what you have paid off. 

One trick I've found to trying to age a roof (if you're lucky) is to go to the property on Google Earth, then use the option that let's you "go back in time."

If the original agent showed the property but contributed nothing else and had no buyer rep agreement in place, one could legally argue she was not the procuring cause at this point in time - this is typically on a case by case basis.Georgee, your best course of action is the one you’re taking.  

. -- how fast will interest rates increase in time?

I was 28 when I bough that first duplex and if I could back in time I would have started much earlier.As far as financing I had little money or assets and just worked a regular job.

Things need to be adjusted based on your specific building.Remember that a CAP rate (NOI/return = sales price) is a simple snapshot in time, it's not meant to decide the value of an investment over time.

That way if she fails to move in time, you can go straight to the lawsuit and hopefully have her out in 20 days or so.Good luck!

what you need to find is a place that gives you 20 to 50% return AFTER you buy it from the investor. yes, i know, hard to find, but not impossible. in time  you will get better at making deals, but don't get all caught up in a first deal just because you want to get going. you may stop yourself dead in your tracks before you can even get going

You are starting getting into the fall market, and if you are not going to show it before then, and planning to do some work after the tenants move out, assuming they are moving out in time, your home will actually be available for rent October 1st, which means that you might want to lower the rent a bit from the top market price in order to get someone in asap.