Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

A serious accident with injured person requiring hospitalization can get to a million dollars in a month or two of medical care.Hence the efforts by asset protection specialists.For my part, I just use the LLC approach.

Your approach to finishing the basements in order to extend the number of years a tenant stays in that unit makes perfect sense!

Is it best to approach an architect or a land developer for what I am proposing?

On top of that, he’s funny and very approachable.

@Elvon Bowman Thinking big is important, but it's also helpful to take a practical approach. 

Would you be willing to share how this approach has worked for you?

I’m considering countering with a price closer to the market value, but I’m curious how others approach deals like this.Looking forward to hearing your thoughts!

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

We approached them a year into a five year owner financing and asked them if they were considering cashing us out as well.