@Basit Siddiqi@Joaquin Camarasa@Bruce LynnA few observations/opinions on the topics discussed from a resident of the 51th state of the US (Canada - LOL) and investing in Spain:1.

The strip of land is utterly worthless to anyone but him but he's happy to pay $450k to resolve everything without the courts input.I retain 100% of my building, 99.999% of my land, and 100% of my existing mortgage. 

Let's assume that the neighborhood is a C class and the median income of the city is greater than 3X of the market rent.Here are some of the considerations I've come up with so far:- Units are in need of renovation and capex is too high or not available- Unit quality is not the same as market - Seller is worried about losing tenants due to increase- Vacancy rates are high or filling units have been difficult- Rent increase would take multiple increases over multiple lease periods to get to market rate if seller is trying to retain the same tenant- Seller inherited property and just want to liquidate- Seller needs to liquidate quickly (financial burden, sickness, quick exit from land-lording)It seems like I might be missing a warning sign about a deal if they are selling with current rents that are under market; but again, this seems to be most of the properties I've underwritten.And in the same vein, what should I be worried about when purchasing a deal with under market rent with the intention of raising them after purchase. 

I manage my own properties as do my clients; with the electronic resources for screening, rent collection, more - the ROI is greatly improved and you retain control of the property.Hope this helps.

Between Brookings and Astoria there are many county properties that cam retain their vacation rental usages or qualify for a new license.

Thank you Chris for taking the time to elaborate on your observations.

A roof extending over a lot line would not be latent, as it is observable with the naked eye.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

  - Does he want to retain some owner ship?