Since I started this thread, this is what I have found out...He owns both properties outright, no liensBack taxes total $12,000Loan to Value ratio is about 30%Both properties compared to others on the street are valued around 180k eachThe main cost is Plumbing, sheetrock and insulationA recent divorce was the cause for the depletion of cash. taxes assessed have been amended since the first property in the midst of a flip.

We research local codes and amendments to make sure that the plan review process goes as smoothly as possible.....but wait!

Where the inspection scenario you mentioned may require an amendment to commemorate any renegotiation, that is not the same.

The problem is as long as it is "on the books" so to speak it can come to life at any point without any additional votes from city council so I would like to see it actually amended and changed.

Do you just deal with those vague items in due diligence with an amended offer?

Some jurisdictions I operate in amended their laws a few years back because the law used to be vague on who was owed surplus funds after a sheriff's sale.

One need not amend previous years tax returns.

I also spoke to the remainder tenant about the situation, and he agreed to sign the lease amendment.

It should do the trick to get your account established and you can always amend later...

I continually amend my leases to improve them.