Figured there would be a few data points left out of the equation' that I would need to circle back with :) .There are additional units not rented at this time which could be rented to increase the income.

It could give you peace of mind as you focus on your family and move to your new home, without the additional stress of managing a second property from afar.Best of luck with your decision! 

I would keep the work very cosmetic, and I would enjoy the additional space and/or revenue from the unit without considering digging up, etc. 

They call it a fee, but it's effectively 22 percent interest.Any experience with them or thoughts in general?

I wanted to help them out and minimize their loss and saw an opportunity to get a property slightly below market because of my commission savings, immediate mortgage and maintenance relief, in addition to keeping a lower short term interest rate How did you find this deal and how did you negotiate it?

I am looking to connect with the investors there as the promotors are continuing to take Asset Management fees to the tune of $450K a year (on top of PM fees) even when their payout to the investors is around $20K a quarter (not meeting preferred) and the overall fund is negative about $450K.

I have read in forums that upfront fees are generally big no-no's.

These are professionals with additional training and a stricter code of ethics.

Maintenance/cap ex, insurance, if a rental PM, bookkeeping, misc.The fact you have a loan means 1) leverage 2) equity pay down.In addition, there are tax benefits.So I will do some rough underwriting as an OO non-rental at 95% LTV (because FHA has some undesired consequences that make the 1.5% difference in LTV worth avoiding the FHA).equity paydown: 20% (using OP interest rate at 95% LTV and not counting closing costs). 

If they fail to pay the taxes, plus fees and interest, within that time, then the property legally becomes yours.