Ultimately the law prevails but it creates unknowns etc.   

Not sure the draw to leave something you know works for something that is unknown, but that's the beauty of the free market.

The owner was deceased at the time of filing and unknown heirs were named as a defendant.

Lesson: Account for at least 10% contingency in your rehab budget for unknowns.

If you a fixated on "your guy"..... you fully trust their ability, honesty and price..... and don't want to risk using someone else, then explain that to the tenant....be honest and up front about it with them....... and provide several portable units.When it comes to contractors, I 100% understand not rolling the dice on an unknown...... be honest with the tenant about why you are doing what you are doing and provide a reasonable temp fix with the portables......

Unknown, still own the property!

back against the wall and suddenly a major issue (potentially).I've walked away from several deals that had signs of issues with major unknowns such as the one you face, I'm not suggesting that this is 100% the direction you should go.

She listed "unknown" on the disclosure in regards to flood zones and "no" in regards to previous flooding/drainage issues.

Of course there are several key unknowns regarding overcoming covid.

My goal is to reach 10% leveraged cash-on-cash but still have too many unknowns to understand whether that's possible at a reasonable cap rate with real-world financing.