Hi all, my name is Danielle Gillespie and this is a long over due post!

Over a couple of years, I force appreciation, mostly through RUBS and rent increases which are long overdue, and then refinance and buy the original owner out.So Original owner is limited partner that contributes 20% equity.

Getting a conservatorship can be a lengthy and expensive process, and though I have a good relationship with the seller (having become well acquainted through many phone conversations and through doing little things like cleaning off old photos I found at the trashed property and mailing them to her), she has been slow to get the ball rolling on her end.

Councilwoman Lynette Gibson McElhaney called it “long past overdue.”

This has been a lengthy process and while the goal is to close on the property, we cannot do it at the price that has been accepted by the bank.  

The timeline will be lengthy (approx 7-8 months) as there is currently a tenant.

Brian Eastman had mentioned that all investments must be at arms length, I am going to see if I create an LLC, I'd be able to invest in that entity and if so, what the restrictions will be. 

Going the active route will not only take up a lot more of your time just to find and manage properties, but there will also be a (likely lengthy depending on your current level of expertise) learning curve required to get you to the same level of expertise as Sponsor/Operators you can invest with to minimize risk/maximize returns.

Would anyone like to share his/her experience with lengthy leasing contracts.

@David Pierce thanks for the information and lengthy write up.