Many folks have a problem adjusting to effectively living on a 7.5% pay cut.

Claiming identity theft is straight out of the Deadbeat Playbook.

After 4 Failure to Pay Rent judgements within 12 months, they can get a Warrant of Restitution Without Right of Redemption...which means even if they paid, I can still evict.I have never needed a lawyer for this...it's been pretty straight forward.

I just figured some guys already have contractors that analyze the property for them and cut out the inspector costs.

The difficulty is it is hard for the inexperienced to cut through the sales pitch and evaluate the degree of actual knowledge and experience.

We are currently touching up the place to sell it and cut our losses.

You should also figure out financing, because (I'm in the process of doing this myself, by the way) a hard money lender will cost you more than conventional financing, cutting into your profits.With the information you've given so far, I think it's a good buy at 25k, but I would probably try to acquire it for 20k, since I'm not sure about your financing and expenses.

Cutting your living expenses this way goes a long way in your ability to save up for more units.

I found that cuts down on tons of questions.

That really cuts into your already thin or negative margins.The condo fees are also generally on the high side and you will have to pay that for all 52 weeks even if you only rent for 12 weeks.