As a property manager my leasing agents would bring me applications where an applicant has broken a lease in the past.I would advise my leasing agents to ask the applicant to provide a letter on letterhead from the previous management company where they broke their lease proving their balance is $0.00 owing no outstanding balance.If they had any outstanding balance we would not lease to them until they have taken care of the outstanding balance. 

Being on the far side of the highway may discount it but the views could easily compensate.  

In the next 3 - 4 years, there is a huge highway being built around the building connecting downtown to the outskirts of downtown.

Unfortunately I was the one who got the second DPS call and had to see him dead on the highway.

If the appreciation is outstanding then you might be able to sacrifice cash flow for price.

Hi BiggerPockets members I have this deal presented to me to purchase this 221 units hotel that’s right off of a major highway with a full restaurant and extended stay suites and this was a high end one back in the day that hosted a lot of events with 4 banquet halls .

The Performa and Projections are outstanding.

We currently have no loans outstanding on any of the props.What I think we should do next is consolidate these props and use the money we could get from selling them all as a down payment for a much larger, perhaps multi unit apartment complex.

At takeover, the economic and physical vacancy was 23.5%, we had 12 hard down units, 33 residents with outstanding balances and a mess of deferred maintenance.

Purchase price: $60,000 Cash invested: $5,000 Sale price: $97,000 Completely renovated two bedrooms, two bathrooms townhouse is sensually located, near Shopping plazas, major roads and highways,it features brand new kitchen with the new appliances,wood flooring and tile,freshly painted, light fixtures and washer and dryer inside.