dont over think this its not that complicated. important issues are.1. cost of capital2. knowing what a deal is or is not.3. good reno crew or contractor  4. good agent that will tell you straight what its worth when done and what level you should rehab to.5. a market that is actually moving napkin math works  trying to drill down to decimal points does not.

Thanks in advance, IrisHi Iris,I ended up transferring ownership to the LLC and didn't have any issues.

But you have to ask proactively, and be mindful of how long you stay in forbearance to avoid long-term credit issues.🔹 Insurance Challenges – Even when insurance pays, it rarely covers the actual cost to completely rebuild.

It is what is left after snow removal, cutting the grass, utilities, tenant issues, parking lot issues, property taxes, mortgage payment, etc. that make a difference.

We are good friends but that's also not an issue for them because they are a dual veteran couple.

Quote from @Joshua Kaufman: I'm having an issue with rent collection from a commercial tenant.

Quote from @Robyn Henderson: My family's 3 unit prewar building in Brooklyn recently had plumbing issues and I'm debating renovating each of the bathrooms.

It provides an opportunity to see what's happening in the units.You still have the ability to evict for lease violations, but your less likely to face non-payment issues. 

The issue is not the contract, the issue is going to be enforcing the contract, the individual who was selling this could hold this up for years and cost you tens of thousands in legal fees, and then they file bankruptcy and stall it another 5 years.

What entity issues the prom notes?