Then we met with the engineer who drew up the plans and he confirmed yes it can be lifted and leveled out more, but he told the GC from the get go that he felt the building was condemnable and didn't want to do the work because it would be a mess and here we are, its a mess.

What drew me to this property was both that it was a multi-family property and that it was in a location that appeared to be a good neighborhood (according to my coworker anyway). 

@Drew Sygit I see, I’m going to have to confirm the demographics of the neighborhood with my PM.

Your wife and sister in law need to decide who will quarterback the transition team (family,lawyers,doctors,property managers,accounting,funeral arrangements,etc).Whomever is the emotionally strongest and most well organized person should be taking the lead in all legal decisions when their father is unable to in the future.After he passes there is going to be a ton of work to do so get good professionals to help you.Your going to need to evaluate the current situation of the rental properties and the quality of the property management and tenants.Is your father in law using an LLC (limited liability corporation) to run his rental business and to protect his assets?

Drew Denham I am tile installer here in Chicago suburbs.

It is Detroit, and their is lots of Monday morning quarterbacking to be done on the decision making of the victims... but that's exactly the point.

In MI properties are mostly surveyed into townships, sections, and so forth so descriptions sound like: The NW quarter of the southern half of the eastern part of section 9 less a portion commencing 600 feet from the eastern boundary of .... blah blah.Anyway, when I got my tax bill, the county clerk sent me a note saying that she thought the description sounded incorrect and she drew a picture on a map of what the description showed and then what she thought I had actually purchased.

@Drew McLaren I participate on both sides -- I give money to investors I trust from my retirement account and also have my own business where I receive money in the same manner.  1st liens are relatively low risk as long as your partner is selecting assets where the investment purchase is less than the value of the property that secures it.

Well done, Drew!

Drew Oesterle Drew if you are looking on the MLS around Denver 99 times out of 100 you can't get a cash flowing deal with 100 percent financing.