In certain areas people would buy the deal in a heart beat.

This is where you have to have a friends heart instead of an investors heart.

it's just a different market. we used to have a 450 sq ft studio apt co-op in chelsea that we could sublet for $2100 a month easy when we were out of town, which sounds great until you know the maint was 1k.all that aside I take your warning to heart. and yes my plans would include $15,000 for reserves.Jon will be relieved to know we missed the bullet on this one and our offer was turned down, they are going to get over 700k and not look back.

If your heart melts every time someone tells you they lost their paycheck at the casino, you may not be cut out to be a hands-on landlord.

Cindy Jensen I love this strategy, as its near and dear to my heart.

We are a warm hearted paying it forward group of people interested in real estate investing. 

As is anywhere, if you don't prefer apartment living and want more space going out to burbs like Guaynabo puts you about 15-20 minutes drive to the heart of everything, plus I'm seeing more opportunity in the suburbs just not sure how marketable to tourist.   

Are you trying to cater to this population because it's close to your heart?

I do not have the heart to jump to rent $150 per month on retired folks, even though they really should be in a 1 bedroom apartment, not a 3 bedroom. 

Non-payment of rent is grounds for eviction once you do proper paper work of notice and all that legal stuff.Reason, I say is because my tenant, an older lady had a heart attack and was delayed on getting her job, so I am behind by 4 months now...i let it slip past for humanity sake, and now its getting difficult, promises after a while seem distant and goes unfulfilled...So decide if you want to continue with this tenant or not and let it die while you are still friendly with them and not let it play on your emotions where it gets difficult as months pass you by with loss of rent and trust in the tenant. my 2 cents anyways.If i do it all over again, I would have evicted at the first sign of delinquency.