(its in a midwest (basically forget appreciation), not sure if its relevant) Foundation is ok and structurally okPrice 60K seller carry 50K, I have to come up with 10K cash to put down, three units out of four occupied, rents 2K...

Your county building dept will have physical requirements for a separate dwelling unit (such as thermostatic control, accessibility to the breaker box, basement window egress and fire separation.

It does not cover all types of liability or most landlord-tenant issues--that’s where a proper asset protection structure comes in.Integrity is also great, and is certainly an element of how you do your part to keep your asset protection plan effective.

Though there is a $19k discrepancy, I feel like the HOA has admitted they are responsible for this cost and their insurance adjuster has contacted me to try and help me, since the physical unit was damaged.In the meantime, the City of Santa Monica is forcing me to relocate my tenant, as my unit is inhabitable.

This ended up being a LOT more work for us than we were physically ready for!

You have not mentioned if there are existing structures on the land, the topography of the land, any road widenings, utilities to the site, zoning approved for commercial already, etc.There are TONS of metrics that go into it.    

@Brett Mountain, It depends on how ownership structure is set up. 

In trying to figure out the best way to structure a deal for the property, I’ve looked into the idea of her gifting equity and owner financing.I’ve partnered up with two other guys who have raised money from investors and we are looking at other investment properties to continue in real estate.

Further, the condition of the entire structure, not just your unit is a concern.

However, that’s how the system is structured.