All these extra expenses start to add up, so make sure you run your numbers well.

Expenses (taxes, HOA, insurance) are $267/moI came up with a Cap of 8% (the bottom of where I am comfortable).If I had $80k in cash sitting around, I would jump on this deal, but as it stands we would have to either 1) buy in a self-directed IRA for a longterm investment or 2) cash out part of our IRA, take a tax hit now, but enjoy $600/mo extra income forever.

Just get the darn permit!

We keep them well maintained and tidy with the idea that good tenants want updated, clean spaces and are willing to pay a bit extra for them.Do I let him stay, at least another year until all the other units are turned, or does he need to move on?  

There is something about the soil being unstable.On the menu on the left I hit "Issued Permits".

You can RSVP here (an account is required) or simply show up - but registering would be helpful so we can plan accordingly with printed materials: http://www.meetup.com/Networth-Investors/events/22...Light refreshments will be served - please note that Somerville is mostly resident parking, so be sure to give yourself some extra time if you're driving in, try to carpool, or take the T.  

Definitely fix the water and mold now or it could be a way more expensive issue later, and you don't want city people and permits and legal/local governement stuff involved.

You personally have a house and other property worth about a million and about another million cash in the bank.You bought and rented out a property that had some upgrades done to it -- without a permit.

I must sell a property who is already paid in full and need that money back in my hands urgently to keep expanding. Commercial Value is around 145K. Since HOA is $330 and rent is only $1350 at most we are deciding to ...

In Chicago that's not allowed in most of condos and of course most landlord don't permit it.