Depends on the state but it ranges from $800-1500+ and, as Chris mentioned, we have the borrower pay for out of the gross proceeds of the loan.

@Chris SeveneyYou have to know why the owner wants to sale.

Quote from @Chris Seveney: @Douglas SchwartI would run from this deal.

Quote from @Chris Mason: Rather than starting with one lender and going back to the tenants, another approach would be to work with a commercial mortgage broker who will put the full credit package in front of 10 or a dozen lenders, and see what they come back with.For example, for scenarios like this, I've seen lenders come back and offer a new loan that has a maturity that's coterminous with the lease.

@Chris Blackburn, while I can't speak to this specifically, there are a few red flags I see in your post.1: A Realtor has to be a member of the national association of realtors, an industry trade group primarily focused on your typical home buyer.  

Quote from @Chris Seveney: @Jerryll NoordenI love this post!

Quote from @Jaycee Greene: Hey @Chris Preone, welcome to the BP Forum!

Quote from @Russell Brazil: @Tom Gimer do you guys do PA?

Thanks Chris, that's really helpful!

Quote from @Timothy Allen: Quote from @Chris Webb: That is great!