Keep an eye out on specials, bogos, and discount.

There are all kinds of skyrise apartment/condos and the arms of towering cranes announce the arrival of many others in the upcoming years.Building amidst this explosion of growth was genius for the discount furniture retailer!  

However, this is assuming I am able to get my offer accepted which of course I will not be offering the list price, but at a minimum 10% discount depending on the condition of the units which I want to see before I buy of course.

This give you the option to pick it up at a discounted rate where the #'s make sense.

The opportunity might be that you could payoff the note with a discount, but ask your CPA about forgiveness of debt and much of that can be avoided getting a note buyer involved. 

They are definitely on the hook for the $600, if you want you can discount it a little bit but at the end of the day; they caused the repair, not you.

@Nick CiarnielloYou need to collect far more information before you would know whether you have a deal worth pursuing:who are the clientele;how does the rent role compare with the local neighbourhood;what is the economic vacancy (physical vacancy + turnover + uncollected rent + evictions);what are the operating costs;what is the physical state of the assets (roofs, HVAC, envelope, appliances, parking, etc) and how much near term re-investment is required or likely;what is your target rate of return.You want to obtain real numbers (not rose-coloured prospectus projections) for the past 2-3 years and use them to carry out your own discounted cash flow analysis of the property.Also keep in mind that properties freshly on MLS - particularly during the hopefulness of spring - are rarely priced appropriately to be a deal.  

Rene Alvarez - lesson learned for you here -- make sure to get a signed exclusive buyer agency agreement (at least for the day or that property) with your potential buyers before investing your time.I've met many buyers who will use an agent's time and then write up a BUY offer through a different discount brokerage (or friend) in order to get a commission rebate.

I thought even reits are typically leveraged to LTV 60% Sometimes we are paying off higher interest loans at 6+% from 10 or so years ago or seller-carries at a discount for early payoff or commercial loans which have higher risk, balloons, adjustable rates and annual reporting requirements.Thank you for this post and sharing your lessons and insight @william s.!  

Easy to login , great account dashboard and best part is good discounts.