So I think you going to see some lenders take some big hits as well.

U will never hit the numbers ever in renovations as there is no way to know the unknown.. just make sure there is plenty of margin above you all in price and cost of capital. 

You want to hit those points. 5.)

The sponsor is likely suggesting that your monthly cash-flow will be shielded by depreciation and you will likely see your 'tax hit' when the syndication disolves which in industry standards is likely 5 to 7 years.

@John Hickey Great job, you really hit a home run when you bought this property in 2007.

was it 0 down because they had LP's or they bought it with 0 down and where was the fianncingWhile this can happen, it's also like hitting the lottery and not common. 

I will like to know how people make money buying at 5.62% cap rate when 30yr mortgage is hitting 6%.

As a part of the partnership with the state of Virginia, which included $750 million of Virginia taxpayer money for infrastructure improvements to support the Amazon HQ2, Virginia is offering Amazon $550 million in grants for hitting that hiring goals, and an additional $200 million for hiring 12,850 more employees from 2030-2034.

The only other option I see is a short sale, if you don't need to purchase for a few years and don't mind a temporary credit hit to save the $60k.  

It will be a lot of hard work for little to no pay (or loss) until you hit a point that will be long and hard.