No, going with an undivided one half interest can cause issues in the event of life occurances, death, bankruptcy, liens, etc.You and your partner need to see an attorney anyway, I suggest you do so before you act.

The tenants sound as if they feel screwed or otherwise harmed and are going to take it out on the property.It may prove cheaper to do a cash for keys deal with these tenants before greater harm is done.

It just occurred to me that Freddie Mac might balk at me doing it as a land mortgage : ( I know nothing about condo development.

The problem with the credit repair service (mycreditlocker) that was mentioned in the previous post is that it can end up doing people more harm than good.First, when you dispute online (part of the package they promote, on the website), you effectively give up one of your most valuable rights under the Fair Credit Reporting Act, because you can't use certified mail/return receipt to prove the delivery date of disputes.

My OP wasnt so much about specifics, i.e. hitting all the local short sellers in my area tomorrow, as it was about the possibility of using it as another way to find buyers who fit the LO mold, i.e. people who want to own a home and dont currently qualify for traditional financing. 3 years isnt enough, cool, then I would go back through the short sales that occurred two years ago, contact those sellers and then put them on a 3 year LO thereby giving that 5 years you were discussing.

The only complicated transaction will occur if I ever have to foreclose on a lien.

Kids might drink and swim, but... ghetto apartment complexes have pools where the same occurs.

I don't think these conditions occur as often with commercial, verses residential properties.

I am under the mindset that an extra bath and finished area can't harm.

Another great argument to add is that (hopefully) the current investor ratio still allows financing, so grandfathering existing owners would not harm the HOA and still protect ability to allow financing.