I would also be sure to get all of their contact info again to include emergency contacts etc. so you can maintain communications with new tenant.

When the next recession comes (they historically happen every 5-10 years and the last one was '08),  I'm not confident that the population growth will outweigh other negative macroeconomic factors...I strongly doubt we will see anything like the '07 crash, particularly because of the affordable housing shortage, labor shortage, lending reforms, and all the positive migration, but that doesn't mean we won't see a pullback. 

For the market I'm evaluating for investment opportunities (northern california, san francisco bay area), none of the small multifamily properties I analyzed have positive cash flow after taking out PITI & 5% reserves (5% maintenance+ 5% vacancy+ 5% capex). 

I was unclear what the standard amount to require them to maintain would be. 

Wendy is right - but there's a lot to consider when it come to fraud.There are several types of fraud - most have to do with intent and the actions taken prior to, during, and after the fraud takes place - and all can be argued one way or another.Pretty much every single purchase money loan has a due on sale clause - if you are maliciously trying to sell a property without paying off the loan, yes, that's Intentional Positive Fraud and you can get cracked on it pretty good. 

House recently went from exclusive bidding period to extended, and I'm quite positive it will sit there untouched, until at least one price reduction (and probably past that).

New a/c unit and they said it wasn't working......I send the a/c guy over and it was in the off position. lol  So I pay the a/c guy for just turning it to auto.  

If signs look positive, then we will probably proceed to get an architect/engineer involved to do drawings and pay for the permits.

- What are the cost to maintain?

Adding another 13.000 families plus I don't know how many from indirectly related will just turn up the heat some more.Personally as an investor I am looking to position myself to be successful with or without Foxconn.