Tomorrow the final coat will be applied, and by the day after the handyman and I will be able to walk on it and start doing finishing jobs like fans, lighting, quarter rounds, and blinds.We also have a tenant lined up with the lease due to be signed this Friday, at the hoped-for rate of $650/mo.  

(Seller needs the equity out asap, so seller-financing is out)As for the deal itself:       Located a few towns over from me (but not far enough where management would be a hassle), right near the better part of the borough, near the middle school, very close to stores & very close to where new construction is being planned & the area is on an upswing.2 - 2 bedrooms (1150-1200/each)4 - 1 bedrooms (850-900/each)Going inside it this week, but from my walks around the outside, I'm ballparking about 100k in renoSeller asking for 200kTaxes as-is about 6500Seller states all zoning approvals & site-planning have been completed, only thing left to do is pull permits and put nails to woodAs of right now, my immediate plan would be to sit down w/ the commercial people at my lender's, assess my standing, and start all the other due diligence common with a typical, residential purchase.

I've bid on anger things at the last two master commissioners sales but haven't been able to walk away with a win.

I “thought” they would come back and get the second in the next few days.Unfortunately four weeks went by and despite certified letters and phone calls to the previous owners from the realtor, it was never removed.Ultimately I paid a guy $275 to make it disappear.Obviously, I have not been happy having to deal with this problem for the last month and the fact that I had to pay for its removal is maddening.Especially since I feel that both realty companies, the previous owner and the contractor all walked away with my money and I was left holding this bag.In the future I will not make this mistake.But, my question to BP is whom should I attempt to get reimbursed?

Coincidentally I have someone who is experienced in large MFR's who could walk me through my first deal when I am ready.

Please note that I don't know how plausible they all are so feel free to comment:1) Write it into the offer that the eviction process has to be completed by closing, else I can walk.2) Ask for money back at closing to cover any fees plus unforeseen damages to the property.3) Walk away and find something else.Oh great, now I can't figure out how to get my margins back to what they were before....anyway, I haven't made an offer yet.

@Russell Brazil Have you personally experienced sellers walk away from a deal because the buyer is using a 203(k) or homestyle loan?

WIth your pedigree I can only assume the actual studying and testing process would be a walk on the park.  

As a Buyer, my contracts have an "As is, where is", but I always have an inspection period so we can have the option to walk away if something is so concerning that it would be a deal breaker.

@Willie Mandrell comes with the right advice....talk to a local lender, and ask them to walk you through the options they can provide.