Don't fall for the term sheet bait.

Do not fall for the attractive looking term sheet. 

. :)You want to refer to Iowa Code 562a Uniform Landlord and Tenant LawIn particular, read 562A.12, 562A.29 and 562A.33.I'm not an attorney but your case appears to fall under "abandonment" or "surrender."

We are currently negotiating a deal with a property owner while building relationships with engineers, builders, town managers, and others who (like @Steve B. says) we would have never thought reasonable to call without the education we are getting from VestRight. its just an advanced version of the very simple concept on BP of creating your core 4.. of course with developement its more like your core 12 :)  good luck all in the development world.. this can be done.. but its not something that will fall in your lap its not like talking someone into selling their beat up rental :)   

I did a deal last fall with 6 lawyers involved: they added so much unnecessary drama and cost and time to the deal, it’s amazing we made ever made it to the closing table.

Plenty of areas that fall within that price range.

I would fall much closer to your initial thought of $1,000 to $1,500.

I believe some of the responsibility does fall on the OOS investor.

Basically you are spending a large sum of upfront money and hoping you get an roi on that, my understanding though I really don’t do that type of marketing is it was a good payoff if less than you would think based on total sales volume in the before times, but again as conversion rates fall it’s become harder to justify.

I am thinking this would fall under a 15 year property but am interested to hear others' opinions.