That means that the 100 year flood level, presumably a 1% chance of flood waters reaching 8 feet. 

I presume this is in a nicer area of the city.

Let's presume there is $100K equity in the condo, and some monies in a Roth IRA and 401K we could leverage if needed. 

I presume you have a website already that adds to your credibility, especially if you have some recommendations on the site.RegardsFarak

While you don't have cash to put down, you do have equity in your rentals, I presume.

He is not settling the trust, the trust is being set up by the seller, and I presume with the seller's interests being protected and the buyer's rights being limited.If the buyer is unconcerned that he can lose the property quickly, without any legal statutory protections of a mortgage or deed of trust and without the lender having to foreclose; is unconcerned that should worst come to worst he will not have bankruptcy as an option to try to retain ownership of the property; is unconcerned that he won't be able to sell the property without a complete change in ownership structure and is unconcerned with limited property rights as compared to what he would have vis a vis a general warranty deed, than he may want to follow your advice and not worry about purchasing a beneficial interest in a land trust.  

They should give you a starting point with regard to the landlord/tenant laws, fair housing, and the documents your Board presumably offers.

Presumably, the note holder received a cash down payment when he sold the property, plus $42,961.38 for selling 60 payments.

Gutters could make sense for mitigating future foundation issues but may not be necessary since it sounds like the house hasn't had any yet as it is, you may never know if adding them would help or not, barring an obvious spot where they would improve drainage.Also along with presumably not getting you any more rent, it will just be that more of a capex expense if your next tenant messes up your new quartz counters somehow vs what I assume is existing laminate, or breaks the expensive thermostat etc. 

It would be worth studying up on that technique.Because you know the area so well, presumably you have a solid understanding of which specific neighborhoods are most desirable (and un-desirable)--use that to zero in on properties in the most desirable areas.