I would also plan to be involved with in this and not leave it to the church to dictate what is improved as it is always easy to spend other peoples money.

Well, the "exit" is somewhat dictated by events out of my control, right?  

If the owner of record is deceased there are laws in every state or commonwealth called probate that dictate how real estate can be transferred (or encumbered with a mortgage). 

Planning on what is acceptable as income for a seller, what return you must have as a buyer, along with the term structured can dictate the price and or the rate.

All dictated by city code.

The market rents dictate what tenants will pay and not the sellers mortgage obligations or partners concerns.

I have a short sale offer where the listing broker is insisting on the me the buyer to sign an addendum before he would present my offer to the buyer.Usually I have seen seller's attorney dictating some verbage on a counter.In some cases I have seen the listing broker add in an clause, typically when a short sale negotiation fee is required.But this broker is asking for a whole new page to be added into the contract containing many items.

Depending on how high it is will dictate how long it will be on the market.

On buildings of that size in A neighbourhoods we are expecting CAP ranges of 4-6; in B neighbourhoods were are looking for 7-9 and in C's 10-13+.I can understand a lower CAP on a larger (e.g. 50 - 100 unit) building in a C class neighbourhood, but on a 12 or 16 unit, I'm not sure the management costs/headache would be worth it for less than a 10 CAP.Obviously the local market will dictate and a local broker is your key to that informationYour thoughts?

Having a mortgage lien, you can't dictate a sales price either, if you were to say no to a sale as a lender that would have cleared your note, you just put your security interest in question.