@Tom MoleI live in Sherman Oaks Studio City and I agree with you you need to think creatively in Los AngelesFind a problem and offer a solution that's where you going to get the valueOn small apartments or 6 to 8 to 10 units find a mom-and-pop landlord that is pulling their hair outYou can take a look at master lease options which you leased the property on the master lease, and have an option to buy the property based on the low noi or net operating incomeI would use private money to turn the property around and raise rents and increase services and decrease costsApartment accounting is a little confusing and I do enjoy @anthony chara s training on apartments@Anthony CharaIt's online it's not that expensiveIf you're in LA I would not try to do single-family house Buy and hold investingGood luck!

Maybe they have a solution.

Also are you looking for a legal solution or are you confused or scared to re-state your concerns as you have listed them here to negotiate a a more equitable deal? 

In the case of flat roofing you may need to decide what type of solution you expect to get in order to know which materials supplier to look for.

But with numerous repair expenses eating up my cash flow, I started thinking that may be this "turn key" solution idea is not so great for me.

Heat is suppose to be a better solutions when the price of gas is through the roof.

XXXXX XXXXXX (also an owner and self designated representative for the units) to work out a solution not only for my tenants, but for the benefit of the entire complex.

There are some programs especially for low income housing solutions but if you're able to make it through all that red tape you're a better man/woman than I.Find a partner?

@Jeff, locking attic access would be the simplest solution, but I'm not sure as a landlord if this opens me up to liability issues in the vent something happens.

I have had this happen several times... my solution is simple.If they don't go through with the executed contract (that fact that they accepted the check and didn't cash it doesn't mean much) tell them that they have three options...Option 1 -- is to continue down the path and sell the property to you as agreed to in the contract,Option 2 -- they can buy you out of the contract for a price determined by you based on your expenses and a reasonable profit for you time (my best payout in a situation like this was $5K)... orOption 3 -- you will record the contract against the deed and cloud the title until they agree to either options 1 or 2.Best of luck!