Figured there would be a few data points left out of the equation' that I would need to circle back with :) .There are additional units not rented at this time which could be rented to increase the income.

I am 67 and retired as one of the top Business Development entrepreneurs in the United States so this is a fun way to give back to the industry while changing it at the same time it needs it.. and it is that simple. .

It will probably fall back on property owner anyway.

Could the seller provide you with a note for the down payment and you pay him back?

I tried to put the pieces together to build a solid team out there but it's really tough unless you have someone local to help you run it or are willing to drive back and forth.

Learned this trick from a mentor years back, and it’s saved me a few headaches.

The capital loss would be calculated as the difference between your original investment amount and the amount you received back (in this case, 10% of your principal).

Additionally, the city is actively encouraging redevelopment and attracting businesses back to the area.

And doing a back of envelope math of 50% down to SEV, then ~69 mills rate (18 mills added for investment property) means ~$28k in tax footprint.My current understanding is: The Taxable value of the house will be subjected to re-assessment.

How will they get back home?