We had to go ahead and sign as this property and situation was quite unique where the owner HAD to sell for health reasons.

Hi I'm Eric,      I'm a RN and I love being able to help people improve their health.

The ones that I find most telling of a buildings health and stability are as follows:The Reserve Study - this is a 30-year analysis of the buildings present, future, and possible maintenance costs.  

If you mean the mortgage underwrite, it needs to be a complete and functional home with no apparent health or safety issues.The bathrooms can be old, nasty, and gross, but they must be complete and functional. 

I have a lot of MF experience (enough to get a loan for a 20-unit, say), some cash (the least of our problems is finding cash to invest), but less time than I'd like due to health reasons.

It is not the investor per my above example of reduced return.Another angle to this dilemma is the evaluation of the part of the partnership which brings the education or "know how" segment.

Apartments ect.Call your county health and human services building and ask for a list of subsidized housing.

What an interesting dilemma.

When faced with the  of dilemma of a risky tenant that I kinda like,  I generally offer them: 6 month lease max (renewable) if everything goes well and either 2 months sec deposit plus 1st month rent -or- 1 month sec deposit plus 1st and last rent.

I would love the opportunity to discuss the project and possibly find some solutions to your dilemma.