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.  

Busted pipes and mechanicals will be shot.

They can be installed in various methods whether is be fully adhered or mechanically attached but the best part about them is they have heat welded seams which are the strongest point of the sheet vs. an EPDM seam which is an adheared seam and can fail if water ponds around it.

I have an engineer that does phase one, site inspection, and cost reserve stable for one price.Cost for everything above is in the thousands on average.Even if NNN with no landlord responsibility we still get the inspection as part of DD process.If the tenant doesn't renew it is important to know right before the option period kicks in how much life is left on roof, mechanicals etc. as in addition to the TI costs to re-tenant you can get hit with a lot of other capital costs.Lender is going to order a PCR site inspection report whether the buyer wants to or not.