When the demand is concentrated in the entry-level and median price ranges it stands to reason that the luxury market which has an over-supply would contract proportionately. 

Like I said if you so not stand to lose or suffer what's the harm in giving them an additional month?

Either you sell at a higher price and give him the controlling unit or somebody else sells and you're left holding the bag.This guy wants the whole building to take it private and convert to apartments.Somebody else will stand in his way and prevent that, but their life will be miserable. 

The deal can stand on its own if I can get it for 150,000-160,000.

You can always just throw it on airbnb, but you risk $5,000 per night fines.....not to mention the costs to furnish, manage and operate the unit.In my opinion, airbnb from an ownership standpoint isn't much better than just a good old normal long term rental, unless there are unique/niche like features that allow your building to stand apart from all of the other (and we're talking thousands) airbnb units on the market. 

Well water in good Standings with the local Health Department and a septic system that appears to be in working condition.

@Tony Roddenberry,Quick and dirty answer to your question.If you were able to take the roof off your dwelling structure, pick it up and turn it upside down, everything that falls out would be personal property (free standing appliances, furniture, area rugs, are examples) that could be depreciated over five years. 

What are everyone's thoughts on the real estate market as it stands today in our city?

From where i stand I see the biggest challenge is finding deals which seems to be in scarce supply in todays market - i guess i will just have to work the channels like everyone else. 

His lack of response to my text, after he told me the keys were in the mailbox, will stand as he doesn't want the stuff.All the trash, all 25 bags were placed in the back yard.