It sounds like the rents are too low maybe or if they can't be increased I would walk away.$500 per month can get eaten up pretty quickly  by capEx and miscellaneous maintenance.  

Would you increase rent to compensate for shorter lease term?

Being that you’re an out of state investor, I would look for turnkey, 1%, B class multifamily property with some value-add potential whether it be through rent increases due to it being under managed or small upgrades that you can complete during the next make ready to increase rents.

I have always read to look for that first deal around 80-140k maximum and I have seen increasingly less and less houses that meet the requirements I need.

I have a contract on this property ( Buy - Rent - Hold) - FloridaTownhouse - 2 beds 3 baths ( great location from rental perspective)1,320 sqftHOA 225Taxes - 2900CASH PURCHASEExisting Tenant Rent - 1625 (Market rent 1675 -1700)Since tenant has been there for long, no plans to increase the rent until October (when the lease ends).Thank youManniNJ

We saved up extra pays from military deployments, cashed out stocks and mutual funds, When we got a promotion, we set aside the funds over the old salary for a deposit. 

Hi BP friends,On Friday I had a good lesson I want to share with you when it comes to FICO score.I’m about to close on a deal in the next 30-60 days and lock rates on Monday prior to the Fed increase on Tuesday.I just find out that my Credit Score went down from 811 at the end of Feb to 719 on Friday 16 March!

Is there a way to force the value (other income like increasing the rent, rent the parking places, increase the price for laundry...?)

There is an unfinished basement, which based on a little research, I believe I can turn into another unit and possibly increase cash flow by another $600 at least.

There is an unfinished basement, which based on a little research, I believe I can turn into another unit and possibly increase cash flow by another $600 at least.