The facility is a 28 unit 6000sqft building in a secondary market that has very healthy demand.

I love home building science and have a very good understanding of how to build a healthy and efficient home. 

Which is generally returning the bulk of my invested capital back to me and having a healthy NOI on the back end.At no point do I care what the cap rate is at purchase other than for the area that it is in.

Perhaps your landlord's health is rapidly declining?

The best thing you can do to protect yourself is to have the basement tested for mold by a company that does only mold testing and not an abatement company.At the same time, you can send your tenant a letter warning them that they will be liable for mold testing if no harmful mold is found and you will pay for testing if any harmful mold is found.The very next thing we do is; send your tenant a certified letter telling them that if they suspect their health is at risk for any reason that relates to their rental unit then your tenant should not reside in your unit for one more minute and should move to a place they feel is safe because you will not assume liability for exacerbating their health issues, if any health issue in regards to mold exists.At this stage, all communications must be in writing and well-thought before communicating.Your situation has happened to us several times and we had a tenant who lived in a brand new unit for only 10 days and he told us he was vomiting and had nose bleeds that resulted from mold.

If you want to finance the property, it would most likely be a bridge loan through a Hard money lender (12-24 months, 20-25 yr amt, 8%-12% rate, PPP).If you choose to close all cash, you may be able to fill in the apartments and negotiate better financing terms than the hard money, backed with several months showing a healthy cash flow and signed leases.Upon stabilization, you'd be able to refinance to a long-term loan with better financing terms.Hope this helps

I mention this as an example to make sure you have a very healthy margin in all deals , measured in real dollar profit and not percentage return.

I want a healthy successful life.

That person could have lent money on the deal and had a 2nd position lien and received a healthy rate of interest.

I think iBuyers are a valuable participant in a healthy housing market.