There's lots of resources and information here on BP, so definitely use the search function, but never be afraid to ask questions.

@Matt Schelberg  just functional, physical and social obsolences at work in the market place.. its so foreign to us out here..

The meeting begins at 7:00pm Dues are $2 per person.In addition, we will be having an organizational meeting to fill the group's executive positions so it can function more effectively than depending on just one person, namely me (with some much appreciated help from Lori Isom).

Asking for an option price above fair marker price, and structuring the option so that a portion of the rent goes towards the purchase price, is really not functionally similar at all.

And that includes when I have moved.If he were still living there, I'd have him performing these functions for me. 

The property will show its age by a bit of deferred maintenance or functional obsolescence.

ü The establishment of an internal or third party independent audit function to test for compliance.

I don't understand, if you have capital to put 20% down on $3 million worth of assets, why are you wanting to operate in the small multi-family arena, where value is a function of demand, rather than larger multi-families, where value is a function of income?

Compute the IRR for those different scenarios (can compute with excel function).

The house is a bit funky and contains a full functional living unit on the second floor but the ground floor, (basement), which is on a slab, seems to have been remodeled at some point, but not at all finished.