Posted by Shawn on June 24, 2000 at 24:00:30:
I have never run across a building like this. Is this normal where you live? A bad tenant can always be replaced. I would look deeper into the situation. Why does the owner want to sell such a profitable place? I would look over the leases and review their payment histories. Review the utility and repair bills for the last two years. This place almost sounds like a college dorm. This will not be an easy project. I stress the need to find out why is the seller trying to part with this property. Out of the thirteen tenants chances are you will inheriate at least two bad tenants maybe more. This may not be where you want to start your multi-unit investing.