Looking at outside markets can work very well, but you must have a team in place prior to purchase.

I believe you have to ensure all current tenants have the right to decide first whether they'd want to purchase the units prior to the conversion.

And agree, that is another important task that needs to be done prior to Closing.

Bridge cash out is a great option, especially if you cannot access the property bought at auction prior to closing. 

Terms, covenants, conditions, easements, restrictions, reservations and other provisions, including provisions which provide for a private charge or assessment and also provide for an option to purchase, a right of first refusal, or the prior approval of a future purchaser or occupant, according to that specific Declaration of Condominium"ButThere is also ALTA 4.1 CONDOMINIUM--CURRENT ASSESSMENTS ENDORSEMENT which states: The Company insures against loss o rdamage sustained by the Insured by reason of: Any charges or assessments provided for in the State condominium statutes and condominium documents due and unpaid at the Date of Policy.Looking for advise on next steps.

They will provide you quick financing, almost always interest only, then allow you to exit the bridge once the long-term solution is ready without penalty.The main goal of the bridge loan is to provide a quick financing option for a property prior to the final financing being ready.

Must be requested not less than 60 days prior to the expiration of the lease.  

You don't know what type of tenant they're going to be and you're giving them the first month free.Maybe offer their 12th month free with the caveat that the prior 11 months rent must have been paid on time and no lease violations.  

If you use bonus depreciation (cost segregation) this year that will mean in future years you'll most likely have less depreciation for that property.When to use bonus depreciation, section 179 depreciation, cost segregation etc. should be a conversation/analysis you have with your accountant either mid-year doing a tax projection or prior to your tax return being filed.Good question!

Lease language and terms often dictate how the center operates and the types of new tenants can join when a vacancy occurs, so read every line of the leases prior to purchasing anything.