Our lives our pure craziness.

Pure nightmare when this happens and it is all on the contractor.

I guess it would be a pure speculation play.  

I'd tie it up under contract immediately, and do some proactive due diligence on it.The biggest "hidden" cost in most deals is the ramification of private water and sewer, which this deal does not suffer from.

My advice go after every property that works for you from a pure business point of view and keep the emotions in check.

I bought a unit with garish colours last year and got $4,000 off the sale price purely for this issue.

Sounds to me like wading through some very murky legal waters here. . .

I'd test the waters a little bit before getting too official.  

Never mind, I see someone made up an new acronym NROC, pure investor guru speak I suspect.

However, if you move out, you're actually under water $200/mo, and that doesn't even take into consideration your reserves.So, you just need to make sure the property will cash flow without you in it.