It sounds like my best bet is to talk with the current owner and try to get him to sort things out prior to the closing.

If you google "lease .doc" or "lease .pdf" you will find a few options available online.

I got your name/number from a website online and I see you've been managing rental properties around here for many years.

(Which kills my numbers.)The T12 numbers were iffy even though the building is 100% occupied currently and future proformas looked good.There is a new construction happening nearby - 335 unit large apartment complex coming online in Aug 2018.Nobody said out-of-state investing was easy, LOL. 

It is infectious, and I would bet Dad would soon be on board with your line of thinking. 

I think your gut is telling you that that betting on appreciation as your only out is not the wisest choice. 

I've been researching online for the best exam prep courses and it seems like KAPRE/Brightwood Real Estate Education is my best bet as I do not need to take continuing education. 

Your best bet for finding deals is to out hustle the other guys. 

@Jimmy Ready To calculated PMI you can use online calculators (Google).

But very risky, not recommended.Best bet is to find a partner who can back the money.