They sit empty because the costs to update them to code make a project unfeasible for private money. 

We have opted for a hybrid approach - LPs who want to pay for access can get an exclusive network, privately discuss operators, privately review and see other LP reviews of sponsors, and discuss "red flag" sponsors. 

They might not be able to finance the entire purchase amount like other investors using hard money or private money, but they have been doing it long enough to build up a bankroll that can pay for down payments and repairs.Final ThoughtsThe 70% rule is more of a guideline, not a hard-and-fast rule.

Research financing options like conventional loans, FHA loans, owner financing, or private lenders.Good luck!

Is this a separate private unit, anything shared?

However, an option holder won’t be able to stop a private sale from occurring (unless they find out about it before hand and obtain an injunction); the option holder would most likely need to initiate legal action after the fact. 

 @Jackson Hanssen Private message sent. 

Megan, Not sure if I can help you exactly, but a few items that might help: 1) As you are out having conversations with potential private money lenders, you can start the conversation about "Did you know you can use IRA, or old employer 401k funds to make private money loans, secured by real estate?"

Name, address, email, and phone number is all you need.Follow up with an email, as appropriate.

If it doesn't come up, send me a private message.