Immediate eviction means you WILL move out and the locks WILL be changed so you better get out.It is hard to get across degrees of this, but there is a fine line between enforcing the contract legally and Landlord action that essentially takes away Tenants legal rights...If this is approach is totally legal, I may start my own guru course in "How to Throw Out Your Problem Tenants Without the Fuss and Expense of Gonig to Court."

- I don't understand the question...I bet Jon meant to write "How much work to get it ready to rent?"

Basically, I am attacking all recurring expenses possible without totally turning off tenants.

On a total return basis, which is really how you should start looking at the project, you are doing pretty well.

@Cheryl C -- I can totally see that.

I have worked with a few of them; although their LLC status is pretty much irrelevant in the accounting side.Talk to a reputable attorney on the matter; however, as Bill Gulley said Insurance is your best bet starting out and equally important as time goes on.

Having a concentration of units in one complex that I don't have total control of just doesn't make a sound business plan IMO.

It would be my guess that on average most people dealing in RE, I know it is for sure with agents, do very poorly.The answer is something you will have to learn on your own and it will depend entirely on your effectiveness, which is a result of your efforts, time spent, and abilities, combined with your resources.This is area specific so your best bet would be to find people in your area and figure out what is going on with them.

I just feel like something must be wrong for it to be such a great deal.10 unit ranch style apartment building (6) units 1bd/1ba (4)units 2bd/1baAsking price $155,0001bd rents for $300 2bd for $400 - Total $3400/mo$155,000 X 2% = $3,100$3,400/2 = $1,700$155,000 at 5% over 30yrs = $832/mo paymentprofit = $868/mo Owner will finance.

However I heard FHA loans can be nice because of the low down payment.How should you negotiate closing cost to minimize that total closing costs?