Best of luck over the next year making the improvements and getting the rents up!

I'm very passionate about the revitalization efforts and serve on various committees dedicated to improving the artistic community, accessibility, tourism of the downtown.

Did you possibly get an "improvement location certificate" or survey when you purchased?  

This is a new private loan set up through a broker that the borrower took out to pay off an existing tax lien and was supposedly going to use the rest of the funds to make improvements to the property.  

Out to the periphery East Bay in Richmond, West Oakland, East Oakland, on some good streets, w/ some hands-on management, bought at significant discounts, and improved to a highly performing property.

He said they don't care about comps, this is the price.Another potentially good money maker will sit on the market, decay even further and do nothing to raise my property value or improve a neighborhood.

Land is not that expensive in the south and if you are getting financing, a bank will mainly focus on the improvements (house). 

We are also working to complete our background check integration and improvements to our online application feature so hopefully all of these updates should be available in early August, but we don't have a set release date yet.  

Quick financial summary below for context: Listing Cost $567,500 25% Down Payment $141,875 Home Improvement $100,000 30 year Mortgage Loan Amount $525,625 APR 4.5% Life of Loan (years) 30 Number of Payments a year 12 Total Number of Payments 360 Payment each Period $2,663 Sum of Payments $958,775 Interest Cost $433,150 Monthly Rent: $4800 currently, Goal is $7200, Expenses: $2400 a month (50% Rule)Issue 1-Potential Bad TenantsOne of the units was absolutely trashed with mouse traps and obvious apathetic tenantsOne of the units looks to be a party house for recent college gradsDo we have any leverage to get these tenants out, both expediting our much needed renovations and getting us higher cash flow from the higher rents.Issue 2- Wooden Box Gutter Rot, Missing Mortar in brickWe're getting estimate on this but it seems to be an expensive fix.Issue 3- Old AC Units/Water HeatersIssue 4- Leaks around windows to interiorprobably ties back to the mortar issues in the brickDo any investors have experience in seeing major issues like this after the initial offer was accepted. 

This model offers significant advantages to the industry in improved online listing accuracy, a single platform for MLSs and their largest brokerages and franchise members, and streamlined service for the publishers who strive to serve the industry through marketing websites and other software solutions."