Quote from @Jay Bru: Last week Neal and the staff at Gro Capitus let us all know that ALL of our Principals were at risk now in the RTP Nova project of the newly built Townhomes. 

I've got a duplex built in 1888, and have a couple of cold rooms, upon inspecting the basement, there is no insulation under the floor of these rooms.

You must have built the trust to know they aren't telling you it's bad so they can take it.

My wife's siblings have built 2 house on this land as there own houses they are living in The property is a total of 15 acre and each siblings got a portion of the property.

For example, minor towel or linens replacement is something I have a budget for (built into pricing).

Find something with someone who is boots on the ground, that you have talked to and built trust. 

Hmm, that means you haven't built your team yet.

I'd be happy to get you some rough terms to compare to other options that you have, but I also agree with Jay that you should be wary of just selling and loosing that equity that you've built up in the property.

If that is the case, can you start to buy places that are built in the mid-90s to stay away from those big issues?

They usually have a step down on that penalty like 3% year one, 2% year two, 1% year three and so on and so forth.So if you are buying a deal with the intention of rapidly increasing it's value in less than 24 months in order to refinance it and pull your cash out, you might want to go with a credit union for the acquisition financing because FCUs are barred from charging pre payment penalties.I could talk about this for hours about all the nuances but my fingers don't type that fast lol