I'll definitely consult a local RE attorney before putting them to use.

It also is helpful to have a California LLC in case you ever sell that property and move into another state so that you do not need to form a new LLC altogether with new operating agreement, just re-register in the new state as a new foreign LLC.

If you are on the fence about attending in the future, as I have been in the past, let this be your inner voice telling you to absolutely attend the next BPCON.

@Tim Porsche - disclaimer - I know nothing about Pennsylvania real estate law.That said, I don't see any recourse for you here on this issue, as they would likely argue that you had a chance to do your due diligence before writing the offer and/or could have written a due diligence period into the contract and chose not to.  

Just a thought.Depends on if you have cash reserves to cover the pipe replacement now; if not, you could save a certain amount each month to put towards eventual replacement.I guess you just have to decide if you want to pay to have the pipes replaced now, or at an unexpected time in the future. 

I was able to do a DSCR loan and re-coop my entire investment.What made you interested in investing in this type of deal?

As a result, it seems the value is really just very long-term and if we sold it in the future, any repairs and taxes would cancel out much of the gains (depending, of course, on the pace of appreciation -- who knows what that'll be?). 

Congrats  and keep you eye  on  refinancing  options  in the  future to improve on the mortgage  terms

Just get a RE attorney and let him do his thing....!

The key is that they are lending their own money, not just originating loans for Fannie and Hedge Funds  like the big banks do.First Western Federal Savings in SDNorth American Savings Bank in MOTitan Bank in TXDo you know if any Freddie Mac commercial RE lender can do this?