Just make sure to get the rent situation nailed down in the purchase agreement and you'll have no problems.

You nailed it! 

The vacancy could be high for many reasons, such as: 1) High rent/deposit or screening criteria 2) Poorly advertised to potential business owners 3) No popular stores or business types that might attract regular customers e.g. chinese eatery, nail spa, pizza place, pawn shop, liquor store

You sell the property, then take your profit tax free subject to the $250K/$500K cap on the capital gain exclusion.

I think @Ned Carey nailed it

He had already been fed up with being a landlord and I think this drove the nail in the coffin for him.

Patrick nailed it, read the file.

We nailed down new plywood subfloors.

These guys nailed it - numbers, location, and that final "gut feel" have lead me right for 3 deals now....

Your 65K house may not be at market, but it's the cost of acquisition as well, so legally you're at 65K without drapes I guess.Nothing says you can't get a good deal.I'm totally aware of how all this works, how investors or dealers acquire a property and borrow more than what it's original purchase price was or at full value showing higher values based on repairs made or other comparable properties, how partnerships can be formed, how interests can be pledged and the justifications given, so I won't go down that long road either.I'd expect you to stick by your opinion, I've never known you to admit even being slightly off on your opinion since I've been here, that's not saying you're right, but I understand that when your business model is touched upon you are very protective of the basis of operations and that's fine.What I stated stands in court, gurus have been nailed over such claims.