I golf, play a lot of softball, run most days, walk my dogs, do some real estate projects.... stuff like that. 

These all play into the "type" of investment we wanted to do.We are in Iowa where December thru March can be cold and windy. 

Will need to know density, parking requirements, can the building withstand building on top, lot size, future planning etc…. depending on how well the zoning and platting dept plays with others!

It’s a bit like playing Monopoly but with real addresses and real money.. and when done right, it can feel like unlocking a secret level in the real estate game.But hey, no point pretending it’s all sunshine and roses.

You may pay 1.5m and up for a good one, likely more if parking and balconies, but the play is to buy a multi and then wait and in a few years, turn them into condos and sell them separately - that's how you make the money there.

I would send a letter to all units of the building reminding them of the clause in the lease you cited and let it play out from there.

:)The only beef I have with your post is that you are already assuming their is going to be beef between tenants and you are going to have to play peace maker.

Water - landlord plays in JC heights typically.

I never had that come into effect on my single family home purchases since I never wanted to personally be on the hook for such a high mortgage, but I think it might come into play for an MFH. 

I guess an appreciation play would be the only thing that makes sense over here.