so when you call Bank of America, they can't find any record of them owning the property, which they don't, AND they can't give you any information about the loan status without written permission from the owner, and the owner moved to TN, just ahead of the warrant for his arrest.

And it's a non-warrantable condo (due to owner-occupant ratios).Basically trying to pull cash out of this unit to purchase another.

I'm not sure about this and it warrants some research, but I recall reading something regarding whether your rental is in an LLC. 

That savings could warrant locking into that 5 or 3-yr prepayment penalty at that time!

When you run rental comps on multi family check for-Comps offering lower security deposits-what utilities are generally included in the area-if comps are offering in unit laundry (this can warrant up to $100 more rent per month)-If they comps are offering onsite or no laundry-How long ads are up to gauge vacancy timesMost 4 plexes have combined water sewer, trash, and separate meter but always confirm they are separately metered.

I don't think the $300's for a 2/2 condo is too much to spend in the right area, but be aware of condo communities that are non-warrantable and require larger down payments than what you currently have. 

You'll want to make sure that the contract clearly gives the lease option buyers full responsibilities of the property, usually sellers will 'warrant' for 30 days.

One tenant that I got close enough to have a county CO pulled for turned up to have warrants locally, but it didn't show up on the Zillow background screen.

In the scenario does the work performed warrant $15k?...

I'm trying to get enough people to warrant a meet up.