@Sunitha Alli - I would strongly suggest you get qualified contractor bids on a project like this.

Statistical information suggests that it is not a matter of if the Kitec will fail but rather when the Kitec will fail."

I can't stand slumlords but one quick way to get their attention is to send reduced rent.

I would love to hear from others who have gone this route and who may have contracts or suggestions on how to approach this.Thanks,Dave

I'd suggest you also read your deeds.

I suggest that you start with educating yourself on the basics of real estate investing.  

Looking for any suggestions please.Thank you,Mario DeGrazia

My suggestion would be to speak directly with a lender that you feel comfortable with and find out what criteria needs to be met to be approved for the loan and take time to get all of your ducks in a row..  

I realize this may be more of a political/philosophical approach but I stand strong by that position because I'd hate to see the US take the same destructive approach.In regards to insurance, I take a similar approach.  

@Lance Luvaul since you are borrowing from your dad I would suggest you give him either what @Chris Mason suggested or 50% of the profits, whichever is higher.