Tax reform miiiiiiight be playing a role in this as well.

Also, since there are state and federal rules about the terms you can use when originating a loan, I wonder if note holders also take on some new roles or obligations.

I am saying that if you are getting the property for below market value it stands to reason that there will be some differed maintenance that will need to be taken care of immediately, not with your reserve which is only $1,200/month which won't fix much until you have built it up.You never did answer, what is the current occupancy and current rent roles are?

I will run through the exercise when I get back to a computer so I can give it ALL of my attention.

Yes, the 20% the buyers put down would be applied to the purchase when they exercise their option.

It depends on what work is being done, who is doing it and who is the client.What exactly is your role in the process. 

 So do prop managers and a leasing agent different positions and roles?

Literally if you run your business right you can do everything involved with this situation via email and phone calls from your home/office, just to ensure all of your moving-parts are doing fulfilling their roles.

@Chuck KautzHey Chuck,I like your idea of getting your daughter involved.As a father of 2 kids that went to college I think this is a great time to expose your child to what the whole process involves from purchase to rehab to managing this property.Your child will get so much real world experience out of the process I hate to say but this exercise my have more of an impact on her life then the BA has!

Will this be an exercise in futility?