Also, you shouldn't be closing on a Turnkey property until the rehab is complete....the risk of that vacancy time is on the company, not the investor.I'd say that both options are viable.

As he simply won't clean up the yard and I need to field complaints, I'm left with a choice to either do the work or to risk losing an otherwise great tenant.

Partnering with an out of state investor is one way of controlling the risk, which is why we do it that way.  

It really depends on the risk vs. reward for you and how much time/money you have on hand.My gut reaction: lawyer up and prepare to sue both the city and land owner for creating hazardous living conditions.

In our contract in Section 18 sub section (g) Force Majeure and sub section (m) Risk of Loss seem to offer the most guidance.

When one tenant moves out occupancy drops to 0%, risk of break ins & typically lowest ROI.MF Pros.

I have been eager to get involved in it for a while and think I might have found a deal that will work.

Ultimately, you and your husband need to decide your "risk-tolerance" and then act accordingly.Best of luck!

My parents own a 1031 Exchange, single tenant property and the lease is coming to an end.They purchased this property years ago and they have used it for their retirement income.They've asked me to handle the property for them and I'm not sure how to proceed.Does anyone have any experience renewals involving a 1031 exchange, single tenant property?

I certainly don't have it in mutual funds or anything with "risk".