And the city does impose heavy fines.Also, given the location (Central City), long term rental might be financially challenging to make the numbers work.Good luck.

You neglect to share where you are located, which will make a BIG difference on how this gets resolved.  

I drove to the property, it was vacant but I knew this would good opportunity due to location and comps I had ran before going onsite.

You will acquire it quite quickly once you own a rental property.I was always told the best way to learn a foreign language was to go to a location where it is commonly spoken, and force yourself to try and communicate until you are comfortable with it. 

Let's also assume this plays out across several properties, so we can safely utilize a market cap rate of 7%.Assuming your building is identical in terms of unit size, quality, location, etc - You have 14 units with market rent of $1k/mo ($168k/yr PGI). 

I'm looking into new construction in Oklahoma City (building a fourplex) to take advantage of a value add lot in a great location.

Specifically I’d like to know how you would present the offer I have in mind based on the information below.I am a newbie.4 unit class B multi-family in a class B location (close to downtown)List price – $299k.

I have a cash offer of $52,000 on a house that cosmetically seems very nice in a great location, but I may never be able to get my cash back out.

It sounds as if the investor is providing all the capital and you're simply locating the deals.

Hi BPI am looking for sources to locate absentee owners & buyers with LLC, owner name etc.