I like to look for board orders, excessive fines for weeds/grass, stop orders, and unsecured premises. 

But I am sure they talked about fines and penalties. 

The first one Blue gate said it was a fraud and not my problem. 2nd appraisal came in fine.

They do have to step in and pay on the underlying note while they foreclose on the wrap this to protect their credit and theoretically project their equity The issue with all this sub to and wrap stuff is under capitalized investors or investors that dont know enough or investors that have a no morals and just look at these like if it works great I have little money into this no real equity and I am not on the loan so if it does not work I will just walk off .. or really bad actors that get into title rip rents and never pay the underlying I have seen that more times than you can imagine. this sub to  wrap stuff is just super dangerous and I dont care who is training people on it there are just to many things that can go wrong when your sub to deals or wrap deals are with owner occs and their mortgages.. seller carry backs like we did worked fine and the deals were smaller in those days. 

On the surface that sounds fine except with VRBO I did not where I have access to their credit card to charge them directly but rather I could submit an extra charge and it's up to the guest if they pay or not.

There is fine line between the two depending on the structure and source of the capital.My preferred equity partners do quite a bit of due diligence on the sponsor as they are essentially teaming up with them to do this deal.  

I would list the property and advise the tenants you are planning to sell. if they want to stay month to month, that's fine.

I have units without washer and dryer and they rent fine but I found myself showing to people who really wanted the washer dryer way too often so I do put that in the ad and review it again on talking to them.   

They can and will fine you heavily and order you to remove it completely if you don't go to them first and ask for an inspection and do what they want to make it legal and permitted.Don't try to "get away with it".Be a businessman and fix the problem the right way.

The asset may be fine, but the budgets are too small to actually execute.