Student rentals also require knowledge of the school and it's future plans.

If he seems desperate and also on medication due to pain, you may run into scheduling issues in the future based on his health.

My future goals are to have multifamily rentals and residential developments.  

If we will Be eventually raising money via private placement in the future, will I need to take the series 24?

:@John UnderwoodIf I do want to sell in the future I can find a cash investor.

I wouldn't touch the ones with less than 5% rate either - you will not get better loans nowadays and likely in the future - might as well leave them alone. 4.

Make sure he understands you will evict if he falls behind for any reason in the future.

@Jay Hinrichs, exactly, it's far more likely the judgment will be required to be paid, so far more the suffering party, the prior landlord will get paid in the future instead of lenders (i.e. some portfolio &  private lenders) who may not make it a requirement to fund the loan.No matter what, its like attaching a Low Jack that flashes like a Neon Sign when someone pulls a report that says..."

At your closing the current rent should be adjusted, the lease should be assigned and a notice should be prepared advising the tenant of the sale as well as where to send future payments.

I would be happy to start with 5 to 7, maybe then I can use them as leverage to secure a loan or interests from some investors or partners for future endeavors.