Quote from @Alex Silang: Stop playing around.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

We don’t do overseas rental units but recently have traveled in those countries and my brother bought in Italy and my son is based in Sicily.  

I would send a letter to all units of the building reminding them of the clause in the lease you cited and let it play out from there.

Saw you were based out of Riverside - are you thinking of wholesaling there?

The key is to be ready, wait for the right property, and adjust your offer based on the strategy you want to deploy.The time of year is less important than the property itself.

Not sure the final outcome, but I'm guessing that is a case where you think things are risk free, but I expect the purchaser was out significant legal fees that were not reimbursed and ended up not getting the property.I've always thought about this in the rare instance that a super nice and super valuable property goes to sale with a mortgage on it. 

For instance, things like death, divorce, job loss, natural disasters, heath issues, etc may cause you to change your plans unexpectedly and may change what you do with your home as a result.

Even if you believe you can stomach the monthly payments, paying $20K a year to carry a piece of land based on the information you shared is not recommended.

@Justin Jefferson first, some cold realty - you're about as likely to play in the NFL as you are to retire via real estate in 4 years.Are they both possible?