It reminds me so much of the Eastern Block under the Soviet Union where you couldn't control your own private property and everyone operated in fear, knowing their neighbors could report the slightest violation and destroy their life.

That would destroy my house and it's something I could've asked to be fixed for free before the purchase. 

I appreciate your passion, but don't destroy your future on a dream.BTW, by posting this to a public forum, you may have already limited your options for syndication. 

@Peggy Lindsay, Yes, we just had tenants move out whose home was destroyed by the tornadoes in DFW exactly one year ago. 

So I would keep that in mind as you develop some kind of incentive program. 100% occupancy sounds spectacular but not if all the tenants are bums who are destroying your property.

This gives me more ROI via destroying the interest curve, gives more clout with funding partners for future funding or if I ever would have to discuss any whatever.... 

If he does not make it good then at that point you have to figure out if you are going to simply use the 150 thousand loss as a hard lesson learned or whether you will permanently Destroy all future possibilities of Goodwill between you and your brother in law.

If that 12 feet goes through your living space, you are going to destroy all the flooring, cut the concrete and end up with a huge mess to clean up.

The PM cost can be much less than placing a terrible tenant that doesn't pay rent and destroys your investment. 

Since you don't own the property you cannot make any major repairs or improvements to the property without the owner's consent because if you make repairs and don't pay the contractor(s) then the contractors will file a Mechanics Lien against the property and the owner will be liable to pay the contractors.If you do repairs to the property and you don't own the property the owner can sue you for destroying the property.Should the seller decide he (or she) no longer wants to sell the property because he either wants to keep it, or he can sell it for cash on the market then he will sue you in court for whatever his attorney can come up with and you can get sued just because the contract the seller wrote has some b.s. that makes in not valid.It doesn't matter whether you are right or wrong when  you get sued because when you receive a Sheriff serves you with a lawsuit you now have to make some serious and hard decisions in regards to whether or not you want to pay an attorney $50,000 to $100,000 to settle the lawsuit that often takes up to 5 years to settle in court.How do I know all this?