Enough said.However, do not end up on the losing end of this potential deal by over paying for this property.Stick to your numbers and put in your bid as if this never happened.And remember, our country was founded on this principle:"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness."

I was taught by my first government teacher that the *Declaration of Independence stated: We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty, and the Pursuit of Happiness.

If I remember right, the name of that issue is MEC, meaning Modified Endowment Contract.

Maybe offer a sub2 if they keep the loan in their name and you make good on the back-end owed payment. 

There are lots of great amenities like the Zoo, Botanical Gardens - many of which include free admission for residents because of historic endowments, Forest Park is larger than Central Park, and there are so many other beautiful historic parks (Tower Grove Park, Benton Park, Lafayette Park) and a variety of unique neighborhoods that offer different lifestyle and investment choices.  

Will fixing this place open up other options(knocking down the crappy place next door, putting in a playground and gifting it the city with a bit of an endowment, etc) for investment?

A very smart endowed chair at Boston University advises everyone to save for retirement exclusively in inflation protected bonds..or he did a decade or so ago. 

But, if you really want to learn and experience real estate INVESTING as an employee, you would need to find a job with a company, such as a REIT, real estate syndicator, real estate division of a endowment or private office, etc.

'To each their own' as they say.Over and out.LoL, hilarious how you say let's stick to the topic but bring up unfunded liabilities from the public endowments.

@Jonathan McDermott think of the principal that you have invested like it's the endowment for a college.