They couldn't find anyone to rent it, even at a few hundred below market rent, because of the noise the bar had from 6pm-4am.

I just filter out the houses that have sold recently. 

I just filter out the houses that have sold recently.

The estoppel comes later during the inspection phase (see explanation below).I would ask for a list of repairs and/or upgrades since they've owned it.

But even taking that aside --  a bank is going to come in and do a whole inspection themselves and they are going to make sure they give u a number 10% below fair value to protect their interests.So in the end for all teh dancing for 3 months u may have 40k.

@Kris JohnsonBP decided to delete the links to my blog (on my website).You can find my BP-approved blogs below.

The biggest advantage would be lowering their monthly fee by having 2 properties under management with them.

The current owner is leaving money on the table by not offering truck rentals, current rents are 9-11% below market, low tenant insurance participation, etc. 

The basement is unfinished, but is only about 3 feet below grade, and has front and rear entrances, full-size windows, and high ceilings (we would not need to dig out the basement when we finish it).  

@Steve A as many have noted below it’s certainly typical to see 5 to 10 year terms on 20 to 25 year amortization for commercial financing.