These comprise the other 50% of our tenants, and there are two groups within them- those that are on their way up and trying to make a life for themselves- they have a plan, don't want to rent forever but it makes sense right now, and are generally college graduates in their 20's or 30's, and there are those that merely exist.  

If not, all bets are off.Much has to do with the date of death value and whether a formal probate, informal (summary probate) or merely an affidavit.It's only during a formal probate that any interim powers to convey marketable title are granted. 

My assumption is risk could go up for a bank so they may ding you with a higher interest rate for 'hospitality' or 'STR use" than  a mere multifamily use??

You may want to check out our website, www.LogicalPM.com, because, unlike our competitors who MERELY state what they can do for you, we provide an outline of how we execute each of the services we provide!

If your projections turn out to be mere wishful thinking and not actual underwriting (which my experience tells me they are), you could actually even risk being sued or facing federal criminal charges because the rosy predictions you made to investors could end up being deemed as false and misleading statements.

The closing has occurred, you have merely provided financing to the buyer.  

If the property is merely vacant, do everything possible to determine if it is abandoned, meaning nobody cares about it and the taxpayer has most likely made a conscious decision to just walk away. 

I'm thinking the latter is fine, as coverage is coverage, whether I'm the policy holder or not, just as long as we the owners are listed as insureds or additional insureds.

Merely re-painting wall or fixing door knobs are operating expenses and do no increase basis.

They are merely of an indication of what the market is willing to pay for a particular asset, in x condition, and x location at this moment in history… subject to change without notice!