You have to look at the market price, comps, net profit etc...You cannot judge it with what he paid for, he might have seen a opportunity and jumpon it.If price is right, cash flow is there why do you care how much he paid for.

I just put my experiences out there and let the reader judge.  

Most locales have an easy (and cheap) way for renters to bring deposit issues in front of a judge.

My understanding is that if any one of them has a key, the police will consider them lawful occupants and an eviction will have to occur.You didn't say what the situation was as far as if there is or was a lease in place for some tenant, even if that tenant left.My main concern is that my understanding is that the courts do not like "self help evictions" - where the owner does something like changing the locks, removing doors, shutting off utilities etc. on a tenant/lawful occupant, and judges can punish owners severely for doing that.Again, you need to get legal advice, based on what you've said this is not a situation where you (or the property manager) should be running over and changing locks or boarding up anything.

Everyone has their own ranking system, priorities, etc. so it's really tough for me to value-judge someone else's priority.  

I think a judge would find that hard that to believe, also given their past rental history. 

@Sherman Ragland  you definitely do things differently if you are the trial judge or trier of fact and decide who gets what in a dispute...My point is its not that we don't fight for it.. but if client won't sign release and hit happens often and your going to war over 500.00 who has the time for that.. do you want to spend hours on it.. the client gets all cranked up.. look at the detail post above all the emails he or she sent etc etc..

Judging off the 5 yr loan and price point, I do agree that you'll probably be cash flowing nicely after five years, but I'm guessing there's also no appreciation on a 20k condo.

Don't judge the occupants, just make it as simple as possible for them to vacate. 

We also require a copy of the declaration page and that Hampton & Hampton Management & Leasing be named as an additional interest.