This is how ground rents are redeemed when the GR owner is unknown and/or hasn't made any recent collection attempts.

I am alittle scared diving into the unknown.

Ashley has a 4 step evaluation process, how do you analyze a property in an unknown market?

>Unknown and changing legislatio This is definitely my least favorite.  

., so it's an unknown for us (just as most of the states would be).3rd choice would be CO.

It would look something like this: ARV 150K, unknown mortage balance (guessing average is 0-100k since most are older homes), and I would offer somewhere between 70-100k depending on the amount of repairs it needed.

That way you save your cash and borrowing capacity in case any other unknowns come up.

Unknown = risk.   

Same for dues and assessments.If there are enough unknowns many investors will simply choose to bid at the auction sale where the property can be obtained free and clear. 

Next Step For You - Run some numbers....to keep these tenants at 10% under market until they die with small increases or different subsidies they can add on along the way vs turning over each unit every 34 months(Chicago average) and account for the risk of the unknowns, turnover costs, your time, commissions, etc..Chicago Investors - If I am wrong and someone knows something new please correct me and advise but this is how it has been the last 19 years in the business.