Looks like you're on M2M so the tenant would have the option to vacate easily - - OR to remain and let the new owner decide.I would opt for the repairs too and agree that showing with tenant in residence can be a real problem, as even their fixtures can clutter the space and give the appearance of being just too small.

You could easily raise the equity for portfolios with a 25 yr am bank loan.

Money is so cheap you can easily leverage yourself to the point where even a small perturbation can cause disaster.

@David Robrecht they (the neighbors) cant make up their own rules, the CCR's are what they are, although only being 10 units, they could very easily get the votes to change the rules.

I know people who rent easily short terms to students and nurses who come to do their internship in English. 

I need a idea, Since I live in Jersey City , I know the market ,, Is always busy and can rent easily..

I can fairly easily obtain financing (30-year fixed is generally what I go for) on the remaining $700K.

It would rent out very easily for ~$2400-2500/month.

I found the owners and i would like to contact them and see what is going on with it and why they stopped building. the property is easily sitting on 1 acre of land!

But in reality, these cases can easily become a very costly dispute even if you win.