Review their lease agreement and addendums.

Very few of my tenants work at Cummins - I think this stems from most Cummins employees leasing apartments from the huge complexes in town.

@Henry D West My first deal was a lease option.

I personally wholesale lease options, so I can work with low/no equity leads, and recommend everyone learn how to do that too.As for other marketing.

The property is a 5 unit building with the following information: Rental income is $4,000 per month or $48,000 per year totalTaxes are $375 per month or $4,500 per year (this is higher than current but factoring in that they will increase)Estimated insurance is $200 per month or $2,400 per yearExpenses: Vacancy 8%Management 10%Other expenses Landlord pays water at $400 per month or $4,800 per year Realize this could be a cost savings in the future, but want to analyze as isGeneral maintenance (including minor repairs on property) including grass and pest control estimate at $300 per month or $3,600 per yearCapital reserves for Cap ex (appliances, windows (52 windows on building), roof, siding, etc. which I based on building a capitalization table based on useful life of items and number of units) at $460 per month or $5,520 per yearLoan: All in after down payment the loan would be for $300,000Assuming 7% interest rateAmortized over 20 yearsThus comes out to $2,325 per month or $27,900 per yearSummary Income Per Year:$48,000Property Exp.

Since we would be assigning this to an investor, we would not have those items right?

Get them on a lease and make them put a deposit down.

One tenant is on a 12-month lease, the other on a month to month and I plan on raising the rent of those on the month to month by 10%.

One I had a retired couple agree verbally to 1-1/2 month, hemmed and hawed about it, and they're suppose to bring it to the lease signing with the first months rent.

closing costs is a super general term that could involve all sorts of line items, so you really need to break down what fees and expenses you want to /  your lender will allow to be financed, and what you have to pay in cash up front.I prefer to pay as much as possible up front, and usually I pay 100% of any Loan fees and closing costs at the time of a purchase or a refi.