He is renting out to 12 students each with there own room and hiring a part time lady to cook 2 meals for them a day, clean twice a week and run errands..

Certainly nothing to be excited over but I can separate the electric and put that money back into profits and I want to use the cash flow of the building to clean it up, and raise the rents a little more and sell it in 5 years for a nice profit.Thoughts?

The reality is that the costs of a rental property extend far beyond the initial purchase price and fees, so having a firm grasp on expenses will ensure that you maintain a healthy cash flow.

Most renters want nice and clean, and wouldn't want to pay the bigger $$ for a brand new house..  

After talking a little more I found out that the house was inherited from past parents, needed repairs, needed cleaned up, and that they just wanted to wash their hands of the situation.Gahh!

When Auction sites say clean title Given does that include liens from POA dues?

With Downtown living space at a huge premium and year long waiting lists, those areas are a goldmine IF they can be cleaned up.

Is the extra $500 or so monthly worth it if you have to do laundry alot, clean, etc.?

Often you will receive payment settlements years down the road when the individual has matured and wishes to clean up their past.

After closing the buyer had the carpet cleaned, at which time he discovered the home had less square footage than advertised.