Without control in the deal, you’re at the mercy of both the lender and the seller, which is not a good place to begin in real estate investing.Because you’re not putting any of your own money into the deal, neither the lender nor the seller has much incentive to be flexible if problems arise. 

I think a middle ground could be reached there but alas not in my control. 

However a couple larger items that should have been discussed: the pipes would freeze every winter (we've since found a fix), no water shutoff exists in each unit, the well pump has to be turned off and cut water to all 18 units, no pest control was ever done on the property, there was a unit that would take on exceptional water during rain due to improper prep and installation of a new concrete slab.

Some fear losing control, while others are unsure how to structure a fair and profitable partnership.

Use that loan to pay the back taxes and get things under control.

I have had my eye on 5-20 unit multifamily for a while, as I see it much more controllable and predictable way to go about a real estate deal.

Maybe they’ll build a wall around DC so that he can better control his new Kingdom!  

Smart locks and security cameras (outdoor only) add an extra layer of control.

I wish I had control over how far in advance the calendar was open, but that is up to the PM. 

You control a 1.5M asset for $35k and get to live in an amazing location.