You can see regularly companies and some individuals here on BP that like to play games and it happens to them.   

I agree though, an individual condo unit purchase in an old building without the ability to do or understand your due diligence adequately is a massive risk.

And maybe individual lenders use tax returns not because they "need" them, but just to qualify a borrower.So - the only points I am making here are:1.

Thanks for sharing your perspective—it’s definitely insightful, and I understand where you’re coming from.While I get that partnering with one exclusive buyer might limit your potential profit on individual deals, couldn’t there be value in the consistency and reliability of working with a cash buyer who provides specific leads/addresses and is always ready to close on those deals?

The system in my multifamily building is that we have individual fire alarms in bedrooms and kitchens of each unit - those alarms are not wired to the central system.

Each of those things individually can be done at one lender or another, but knowing if it can be done at a single lender is the difference between someone who knows what they are doing vs someone just quoting interest rates. 

He is one of the bigger players in your area, 

@Patrick RobertsDeficiency attachs to the individual - then record it in the county and it attachs to assets.

In July, the U.S. commercial real estate market experienced mixed results, with property price gains slowing, particularly among individual investors.

It's not liked by most Building Departments because it puts substantially more occupants in a building and each with locked individual quarters and highly taken advantage by slumlords creating fire hazards.