If the bank will not require a haircut on their existing debt, I don't know the mechanics of the process all that well but it could ease the burden if the sale will allow the seller to pay off the loan in full.Regarding the potential basement units, I know that elevations vary in that neck of the woods.

I have found a few that have a lot of equity but I don't understand the mechanics of getting the redemption rights>Thanks Ted Kinney

Title III seems like a better mechanism to finance growth of the platforms to me.  

I have some experience doing the mechanics of buying and selling,  but I'm excited to learn the business side of the trade. 

I saw this done with a mechanics lien, in CA so I don't know if it applies.

The elevator and mechanicals are in very good shape and the location is good. 

I'm interested in how the mechanics of this work.  

Major mechanicals need to be updated occasionally.

This is called lease to own.Understanding the mechanics of lease to own assignments I think varies from state to state.I coach it nationally.But I call them “terms deals” which includes subject to, installment sales, wraparound mortgages, joint venture partners, private lenders, land trusts and more.In most states, if you enter into a lease and an option with the seller, and you’re an agent, and you fully disclosure an agent in your acting as a principal, you’re good to go as far as a business model.There are some states were lease options have some restrictions like Texas and North Carolina.

Hey Guys,Does anyone know of, use or can recommend an app for the iPad that can create a 2-D floor plan of a house or apartment but also includes professional notations for where the light switches, outlets and other mechanicals of the house are located or relocated.