.🔹 Maximizing Value – A distressed property isn’t just about fixing what’s broken; it’s about repositioning it for the best possible return.

I would also be as transparent as possible.

This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.

Stay as far away from NEW WESTERN as possible.

We also would like to self-manage if possible.

Yes, it's possible to get an FHA loan with 3.5% down in the city, but your lender is right—there are some tricky hurdles, especially for multi-units.

@Sean O'Keefe Sean, if possible, I would also appreciate a copy of the log. 

Get as much information from the previous landlord as possible BEFORE meeting them.

Looking for ways to expand my network as well as possible job opportunities. 

I appreciate the difficulty in answering given the many possibilities and my lack of specifics.