Sounds like that's what's happening here.Could be a good opportunity for a deep-pocketed investor to pick up most or all of the units in one go, invest some capital, and run the place as apartments.

If the resident breaks the lease or damages the unit and you claim some or all of the money, THEN, the deposit becomes an Income item, typically referred to as Forfeited Security Deposit.I do know some owners that don't call their SD's, SD's.

Just curious how others feel about any or all of the property auctions in Philly or PA in general ?

And frankly, it is getting to the point where we actually need to involve her or we risk losing a portion or all of the investment.

My best suggestion would be to find a wholesale lease option deal and take it to someone who has experience doing those kinds of deals in your market and offer them half (or all) of the profit on the deal in exchange for learning how to do it.

It appears 6 units have been vacant for some or all of the last 12 months.

The realtor says the owner would be willing to finance some or all, but we would pay for the rehab and refi in a year.  

You obviously paid too much for the loan, the property, or the rehab, or all three.

If any or all of these five were to go into a sovereign debt crisis, they could exit the European Union and start devaluing their currencies.

like i mentioned,  If bought right and there is considerable equity, the cash generated from your refinance will return parts or ALL of you original investment...leaving you with a cash flowing, appreciating asset with no money into it.