I would speak to lawyer and let them review the agreement maybe can do a class action and sue personally the managers if fraud.

So rather than just market suddenly for 60 days when a property opens up, you're developing your personal brand all the time.

Personally, I wouldn't use a heloc to then go purchase a primary residence, unless what you can rent the current SFH for enough to cover the current mortgage (assuming there is one on the property) and the heloc payments.

Based upon the cost seg studies of my clients, a building will typically yield 25-30% of the total cost that can be segregated into personal property and land improvements.

If you own cash, then you will probably have to get a loan to buy out the other person (most people don't have hundreds of thousands of dollars sitting around to buy someone out). 

Plus say another 4 feet with the person standing. 

I mean the person whose name its in likely did that themselves!

That's the reason why we sign leases in person, so we can go over the main issues in person and make sure they are understood. 

Personally, we would not do that deal.  

What is your personal criteria for buying here?