Inherited New hoarding tenant
Just bought a 3br - 1ba property. 56,000. Used Hard Money
Tenant was paying 700/m market 1100
The place is a mess because tenant is close to be a hoarder.
I can do nothing raise rent to 1000 and then get long term financing or I can evict tenant spend 12,000 to fix up property then refinance and get a new tenant at 1150.
I am concerned about getting a decent appraisal with this tenant.
Need advise.