You will be able to find a co-op apartment that allows rentals but whether you'd be able to close on it is another question.Co-ops with poor financials will have trouble selling units to borrowers using a mortgage.

It is a fundamental of all financial analysis.

There's no way to guarantee things won't break, there are only ways to protect yourself financially so you can replace those items.

I am hoping to get a better idea of the value of the land to determine if it makes sense financially to start the foreclosure process (the two notices have been sent).  

And make sure you have the financial resources to handle that. 

Heidi Pagano at C2 Financial is amazing to work with, patient and knowledgeable on all types of loans.

It also positions you to work more effectively with lenders and partners who want to see a professional financial setup.How are others here organizing their finances?

------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Rooming houses dwindled in numbers, and zoning regulations took out the rest.Now apartments in popular suburbs are as expensive as in center cities, and for people of even moderate means their own apartment or house may not be realistic financially.  

I've been finishing up my Financial Planning degree at the University of Alabama.