My property is in need of rehab; but also in a pretty good enough area to warrant a $100.00 increase without repairs.

And I took it as good enough and waived the late fees. 

Nat was good enough to provide me with the property address and with that I ran the chain of title.In 2006 an LLC purchased property legally described as Lots 2 & 3 and the East 75' of 18, Block 40 of a given subdivision.  2 & 3 sit side by side and the part of 18 is adjacent to and South of the other two. 

Since Charles was good enough to share his structure, I will share ours.  

A lease gives the tenant possession of the property for the term so long as they abide by it's terms, if they tell a good enough story and they have a right of possession the judge is way more likely to give them extra time than if they are hold-overs (They still have to pay though).

You'll need to do your homework as to what are the vacant rentals asking for rent, and what are the filled units receiving in rent.It's all about the deal--if you get a good enough price and terms to offer a better product at a slightly lower price (rent) you'll be fine.Good luck.PS:  Do the homework--it will answer many of your questions and calm the first-deal jitters.

It's not good enough to say you didn't cough before you moved in.  

Now, I am no slumlord - I take great care of my properties and fix them up to look good enough to resale well (this particular property has a brand new kitchen).

As long as there is a "writing" of your agreement, that's good enough, and if you have emails that prove you're in agreement, that's in "writing."

Fresno & Sacramento average houses are $300-400k so with 1 wage earner in a house hold of $150k that would be very doable plus the life style would be quite good.