I would think your plan could work. 

It's really impossible to give you a direct answer on your question without knowing a lot more about your plans. 

They also want a priority lien on the property.It sounds like you are looking for someone to fund your down payment, I would be looking for an equity partner over debt as nobody likes to lend money in insecure positions, especially when a borrower lacks skin in the game.How much are you planning to come in with yourself?

I am planning to pass on the cost to them both 50/50 since i dont know who flipped the switch, what do you think? 

That is our Bible or road plans for repositioning value plays in good hard working blue Collar areas of Ohio.  

If you have evidence of the damage, it is unlikely the tenant will spend the time and money to take you to court.

If you plan on buying and holding in say a great pm company. 

Make a plan that eventually leads to owning property that throws off cash after you purchase it.

You are procrastinating on the smallest of things which means you may lack the confidence to do what you are planning to do.

I don't get that much business from BP but when I do the transaction values are big enough to justify all of the time that I spend on here.