The rents in there may currently be too low to warrant development and construction of a nice, new 15k SF building now, so I'm looking for ideas for land banking with cashflow.

Also if the number of units rented is more than 50% that would also make the condo non-warrantable. 

I have never been in a situation so grave to warrant cash-for-keys, but I think it is a valid path depending on what state you're in and the overall situation. 

Negotiate a lower price if inspections warrant that, do a walk through the day of signing, and if everything is still okay--no squatters etc-- go sign the papers, pay the money, get the keys, change the locks and move in...I would guess I might have missed a step or two...

Also if you skip title insurance now, wouldnt that run the risk of impacting of a buyer getting a warrant-able deed when you sell? 

I’m going to add a 5% capex to these numbers and see where it gets me.Luckily for me I do not provide any appliances in my rentals, or warrant them I should say.

I would be very concerned that they didn't really have the cash up front to handle the move, given that that I believe the laws in NJ are more tenant friendly if they continue to be a problem and an eviction is warranted eventually.  

Also, I hear the price is steep, around $300, which is understandable if results are achieved and the monthly meetings/curriculum warrant it.

If a tenant refuses, the city can obtain a warrant and force the tenant to allow them in.

Marc - how did it work out and were they good enough to warrant a referral?