After managing a handful of rentals myself and wrestling with spreadsheets, paper leases, and disjointed tools, I decided to build a better solution.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

This is how we avoid lawsuits, keep units full, and make sure your NOI keeps climbing.And if you own property in South Carolina, listen up: state law lays out specific duties for both landlords and tenants, whether they’re written in your lease or not.Here’s what you’re on the hook for:Maintain the property to health and safety standardsMake timely repairsKeep all systems (HVAC, plumbing, electrical) in working orderKeep common areas clean and safeProvide running water, hot water, and heat (unless the lease legally shifts that burden)You can’t just assume your lease protects you.

Quote from @Lydia Winn: One main thing to understand is once a tenant has occupied the space for over a year (regardless of the term of any individual lease) special protections kick in.

It also cannot be on a land lease.  

Our lease allows us to inspect the units quarterly.

@Jeff EarnhardtIt sounds like you are looking to move your business from a leased spaced to an "owned space". 

You can also do what I do and lease the home TO an operator.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

It does not make a difference whether there was anything in the lease or if there were inspections done.