Knowing the true history of the property gave us the advantage of knowing what has to be done to the property in order to get livable again and our competition that did not go this route had no idea what was required to rehab it.Your third question, there is no such thing as a bad strategy in real estate as long as the strategy is moral, legal, and ethical.

That's like sending your kids to school and expecting the teacher to instill good morals and values.

The moral of the story here is with the variety of jurisdiction and the variety of note language among the differences between funding in cash and equity the notes will be less homogenous than what most tend to think.  

@Kirk Perecich if your going to do anything do it legally and be moral about it otherwise don't do it

Moral of the story, check with the smaller local banks in your area.

I guess my morals come into play a little bit sooner than some of us, and I believe in equal opportunity for housing.

We are trying to turn around the complex & we think it might improve tenant morale.  

It regards Christianity as the foundation of our national morality, and the family as the basis of national life...."

The moral of this story is: whether you are a male/female, you have the ball in your hands, now score.

First, because I expect more upstanding business practices from the celebrities/successful investors, I imagine them to have strong morals.