Does it cover replacement of the structure or simply what's owed (assuming there is a mortgage in which case the lender is paid and you are left with a smoldering pile of rubble)?

Turnkey is simply paying a premium to have someone else do the work for you.

Thank you so much for all the input.Yes I was extremely confused on this one because tenants are great tenants and Seller does not want to leave them in a bind and I think that is very nice of the seller.Tenants have been pleasant thus far and appear to take great pride in their unit.When you walk in, it appears as if you are walking into a catalog, they pay on time, have stable jobs and overall no complaints.One less vacancy at purchase would be great so thus being willing to make this work for all, without being tied to a lease agreement that I do not support fully as it is simply too vague for my comfort.I do however remain very conscious of the fact that I do not yet own the property so any such requests would really be overstepping my rights, if any at this time.Seller contacted us for input and thus the initially displayed approach, but I really do like and appreciate the comments here.I like too, that they in part support my decision to provide the lease ahead of time for review.So now I know that, I just cannot ask them to sign it, but have to wait.Thank you all.Follow-up Questions: According to Colorado Law, the lease will revert to a month to month once expired so @Deanna McCormick, can I then use January as the 30-day notice period or would I need to make that January and February?

And having served as attorney for two auction companies I gave you my opinion based upon that experience.Many times I got the call you made and I simply pointed the disgruntled buyer to the clause in the contract that says "AS-IS, WHERE-IS" and poof... the matter was over.

None of these have motorized deadbolts - they simply unlocked the deadbolt and the user has to turn a lever to retract the bolt.  

I simply forward to the state of Oregon for disposition.. if they don't like they will do something in every state there are license laws in every state people are breaking them.Its not fair to those that do business legally.

I would not be comfortable with the landlord using the rental property's garage to store their personal property in.Judy, I would say you may have to get a bit creative to cut the cost of your storage bill, but I would not encroach.Just my opinion,George

My position is that it has been an investment property simply through the huge equity gain over the years...This property is in NY - do they have special rules?

@Nick Mauldin : You simply ask for a T12 (YTD for 2017), Current rent roll, and a PNL for 2016 and 2015 (schedule E will suffice.)If this is a deal you sourced yourself by calling the primary, then they may be a little cagey about providing ALL of the above, but will often provide some of it.

The project ended up going under, and I cut my losses at around $50k.