Vonney Lockridge Shella Sanders i would be interested in your deals also.

Someone please advise differently but here is the scenario they proposed; buy a house, renovate, put tenants in.

Then a General Contr. giving you an actual proposal with an exact dollar amount to remedy ALL of the violations.Only then can you (or anyone else for that matter) be able to decide if it is financially better for you to hold the house and eventually recoup your losses, or cut the cord and dump it now.So unless you already know that you are going to move on, then your next steps are clear and cost you nothing. #1 - The City, #2 - A GC 

But...I ran a client-based business for 25 years and when I ask myself if I really want to do that again—all the business set-up, marketing, value propositions, proposals—just to get some of the joy of property management, the answer is no.The idea of going into debt to buy more properties is very scary,  especially at today's interest rates, but maybe I should look more into how to make that happen in a way that would work for us since it'[s what I'm really interested in.Sorry for the off-topic take!

Due to the negative equity in the deal, if the Buyer ever wanted to sell, for whatever reason, the Buyer would have to either "short sell" or wait until the house appraised for more than the proposed sales price of $446,018.40. 

It's a proposal. 

I'm not sure what I should be evaluating here - we received a proposal and here's an example for just one of our buildings, purchased in 2011.

The proposed purchase sounds like a solid deal.

Try to understand if he has been approached before with this proposal, and how much he knows about seller financing.

I suspect you will get direct messages from a few who will propose helping you secure a $50K line of credit, help you buy a home in the lowest barrier neighborhoods in Philadelphia and then help secure a section 8 renter.