I recommend documenting in writing all of the issues you have encountered and then submitting it to your landlord.    

For us Atlantans this is just an every day thing but some people are more sheltered and on vacation dont want to encounter this.

What are some questions one might encounter when asking a private lender for a loan?

Evidently, the city noticed the sticker is out of date. 

I have also encountered a lot of difficulty in getting a response from brokers who have distressed properties listed- they simply don't return calls let alone show the properties.I'm currently enrolled in a class called "Better Buildings, Better Blocks" that focuses on investment in Detroit's neighborhoods.

It's pretty much impossible to make any money on a spec house if you're paying sticker price and in my experience there are always cost overruns and timeframe extensions on projects like this, so it would only make sense if you're partnered with a builder and already have a buyer lined up for a million dollar home. 

This could be family that would lend to you if something unexpected happens, just make sure you can cover a large unexpected expense if you are unfortunate and encounter one.Good luck

@Damaso BautistaHe has told me in all details his encounter and mistake he has made That is how I know Damaso.

I can't help you with the tax question, but I can give you some insight as to the costs you would encounter if you choose to NOT assign the property.You can get Transactional Funding (TF) to get the $120k needed to close on the property.

I have been in the real estate business for almost 20 years and have encountered all types of problems, issues and scenarios.