I guess I could rehab them and resell the property with units which are stlil illegal, but the city told me to report the current owner because they need to pay a fine, and I wouldn't want the next buyer to do that to me!

Do we make a final offer?

I have a finance and accounting background and have built a number of solid real estate industry contacts in the area.

Mgmt (BofA) for a final decision.

Once you have it filled, and you can make a final accounting, send a second letter.Send that letter within the time limit.

Bankruptcy should be a final alternative not an intial reaction.

check out utility costs with a fine tooth comb.

I'm waiting for a final word from their attorney on whether they will care or will report it if we close in less than 30 days.

I am considering an initial offer of 70K followed by a final counter of 75K since it has been on the market so long.

You don't want to cut spending in the middle of a serious recession, however.But the most important thing IMHO is to change the direction of the US away from having a "finance economy" focus - which generates nothing real.