Smaller commercial properties usually fair better with smaller private banks and I would not consider a large mortgage banker or bank at all.Lastly, At this time, I would approach my seller/note holder and see if I could intice them into modifying the note for a longer term, like three more years.

Hire a water-proofing company to come in, inspect, and perhaps modify the work that was done by your GC and have them give you the guarantee.

When it's beed modified, you start having problems like stairs too narrow or not enough headroom.I flipped a house years ago that was built in 1880.

You'll need to review them and see when they are up or if they have something in them that says a new owner can modify the terms (many leases have them in there, usually referred to as a "sale clause")Part of taking on value add properties (where the value add is renovating and upping rents, is not being afraid of the vacancies.

@David Beard yes I am using the FHA 203k rehab loan.I have a PRE approval letter but have to get it modified because it stated I was buying as an investor with 20% down, which was for another property.So you think $100k is too much based on my numbers?

With a flat roof you need to use a 5 ply built up roof system, modified bit or epdm membrane system. 

Originally posted by @Justin Hennig:What's the best way to divest an apartment asset for an older owner who wants the best for their family is Option #11) hand down asset to children via a willOther options:2) Sell outright and pay taxes3) Exchange into a 1031 fund (Merrill Lynch has a 1031 exchangeable index fund starting at $500k I believe)4) Contract for deed, pay recapture now and taxes gradually (maybe 2nd best option).1...Modified! 

Or something close which could be modified that you know and can share?

Before moving forward in the offer process, I want to know if there is any cheap ideas to increase the value of the duplex by modifying the 2.5 car garage.Any ideas?

Is there any way to creatively modify the space keeping the existing mechanical layout?