im a little bit worried but very happy i never drove down there to look at the 12000$ row houses i saw for sale a year ago when i was poking around jersey CL....I am all for a peaceful protest but i know in nyc many peaceful protests go on to block traffic in midtown manhattan and close down bridges while the police look on and stand on the side lines like a bunch of trained miniature poodles....  

In this case, the entity is a non-profit corporation for which the tax status has been compromised and the low tax benefits makes the building or operation a burden to the seller.In order to acquire title and control of this asset, you need a seller with standing, in other words, you will need the seller to produce all legal documents necessary to satisfy your title company that the Article of Incorporation and corporate resolution authorizing the officer(s) to sign purchase and sale, escrow, tax and deed(s). 

Where do these metrics stand today and how does today compare with '05-'07?

mine were in Mississippi   Madison county the wealthiest county in the state.. all bought for 180 to 220k each... top quality renters I could self manage.. so from a management stand point very easy... and no need for turn key.. just bought direct from the builder and me being a broker I got a commish on top of it.But there are many home builders in these areas that partner with out of state marketing companies and simply flood the market with rentals. 

(Sorry in advance for the n00b question)The project has been at a stand still for 2-weeks and I have been bounced around from permitting department to plan review department to planning department without any luck.  

And this using a 203K FHA loan in the brutal market of Boston, on the east side of the Port Norfolk bay area.Facts & Numbers:2 beds & 2 baths on each of the 3 unitsPurchased for $655K @ 5% down-payment and a generous dose of 203K closing feesTaken a 30K cushion for the 203K streamlined rehabLocked in 4.25% @ 30 year interest rateAppraised at 750KThe numbers are certainly not the exquisite definition of what a ground-breaking deal stands for, but they certainly fare decently well in this seller's market where cash investors rule, the inventory is constantly challenged and most properties are getting sold for over asking price, taking advantage of the current interest rates, the Everett Casino construction, and a few other speculative but pragmatic plays.Just like most everyone else that was not raised or surrounded by real estate professionals from a young age, this deal was pretty much riddled with small mistakes here and there, from neglecting the fire department smoke and carbon detector regulations, being over-optimistic on the underwriting guidelines, underestimating the cost opportunity due to all sorts of processing delays, and you name it.Currently free from tenants, the expectation is to add value by rehabilitating the under-developed basement, adding 2nd and 3rd floor balcony decks, and a variety of practical and aesthetic fixes.

It gets a second HUH along with big grins:)You have a standing offer to go shoot some exotics with me if you wish!

Use this, a.c.y.a. it stands for Always Cover Your ***! 

Would you recommend just leaving it as is which, let me run those numbers real quick for you so you can see where it stands as is.  

It might not be wise to pass up an otherwise "cherry" deal just because it's in a rural or unincorporated area and has well and/or septic.Look at each deal as a whole, and let it stand or fall on its own financial merit rather than your personal prejudices or concerns.