It throws a major wrench in the eviction process.

Hi @Paola Astrid majority of time anything  Newark, NJ I suggest selling if you can. 

But like you all I have seen it done with other lenders.On the sale lease back Chris describes thats how i do the vast majority of my deals.

It is where you can eliminate a majority of headaches or sign yourself up for a roller coaster ride.

My hunch is that more often than not, saving money and getting your ship in order to qualify for an FHA loan is the best and most realistic ladder to homeownership for the vast majority of people.     

The major advantage DSTs have over many other types of passive real estate investments is that they qualify as replacement property in a 1031 exchange.

(I’m ignoring any extra cap-x because you said it was a condo, but you’d also add any major cap-x to cost basis).

It wasn’t how I wanted to kick things off, but I worked with a contractor to get the bathroom fixed and functional.Once that was behind me, I focused on improving the building and maximizing income:I installed a shared washer and dryer for the tenants, a major upgrade that added convenience and increased the property’s value.I rented out the two garage parking spaces, bringing in consistent revenue.I also raised rents for the second- and third-floor tenants I inherited to be just below market-rate.

Its not near any major cities where someone might look at it as a long play for path of progress.Another option might be to see if a solar farm or wind farm company might be interested once its clear cut. 

However, like @Kyle Jiron states MD allows contractors to get one third upfront at least on major rehab jobs (not on smaller jobs) and that's what at one these contractors insisted I give him as it was a major job.