Just a teaser to get people to buy but you can always bank on a good portion of those people to miss the deadline.

Meaning that if you fund a $5K EMD and then decide not to close you lose the EMD, or you pay for an inspection up front and risk missing out on the deal while you're waiting for the report.

@Jason Proulx I think your missing the entire math of things here. 

They found it out, andI had to go to the planning board and zoning board, hire an engineer and architect to make the fourth unit legal.In my opinion, the realtor should have verified the zoning, and if you used bank financing, it's pretty rare for the bank to miss it as well.You are probably going to have to hire an architect to draw plans and to get it approved as a triplex.I wish you luck.

These investments may be better than a mutual fund, but REITs miss most of the biggest benefits of owning real estate.

Have proof on hand (easy enough to find) online of the missed tax payments and any documentation that supports that he specifically didn't pay his taxes.Probably a simply mistake on his part, but now if he wants to develop on it, he either has to land lease it from you or buy it back.I'm not sure how the whole tax deed thing works, so that would be something you have to figure out between the two of you.

The house is currently under management so I’d think they’d take care of getting top market rent but I think we all know that management companies can be hit or miss.

So I would continue to hold the property - but I would be sure not to miss the ability to exempt the gain - so be sure to sell within 5 years.  

I have been sent countless deals from wholesalers in Kenmore, West Akron/Highland square but it seems like at least Kenmore is hit or miss.

The biggest thing that goes missing is the beach towels.