Although I would probably only agree to a shorter term exclusivity contract, say 45 days, in case it doesn't work out for me.

Frankly, if I were you this project would not be worth my time and effort, as it's too labor intensive and complex to add another bedroom and bath.Furthermore, it is not standard to have a master bedroom in the basement coupled with the fact that you would need to have proper ingress and egress approved by the city.I am sure that there are lots of other opportunities to pursue in that neighborhood and beyond.Lastly, all the BPers who chimed in are simply giving their views as well, but, it's your call on this one as to whether or not you want to undertake this massive headache for very little ROI.

Prices in Maryland have never been cheap , but with the amount of work out there , there is no reason to bid low . 

How did your Davenport 5 plex work out?

This thread got intense!

The bank will not want to work out the loan.If it's non-recourse from a non-bank lender then as long as you are not violating any carve outs their option is to do a workout on the loan to get performing again or foreclose and take the property back.

The vinyl floor might last longer but can be more labor intensive because the non-click variety are usually smaller pieces and they recommend luan underneath to adhere correctly.

It sure sounds heavy equipment and labor intensive! 

Work out a profit split arrangement on them. 

Such tools are useful for a more complex or transaction intensive portfolio, and if you find you need such down the road, you can upgrade.Kingdom Trust Co in Kentucky is a quality custodian with reasonable fees and good support.