Heck, even if they were in decent shape if the deal is that good you’ll have a handful of Investors offering all cash just to secure the deal over financed buyers.

Some companies take fees regardless of performance and others are performance based.

The previous owners want to make the veteran sign a new lease that includes paying them their $200/month OR want to keep the security deposits to account for this Any advice? 

The previous owners want to make the veteran sign a new lease that includes paying them their $200/month OR want to keep the security deposits to account for this Any advice?

Here's the sequence I used to build out my worst case scenario:1) Look at historical performance, which should be region-specific and is publicly available data.

That way he has a secured investment and you can move forward with the deal (it sounds like a fix and flip?)

The income is also subject to self employment tax which is both halves of medicare and social security.

Hopefully you have a security deposit as well.

Plus, banks/title/insurance people start noticing and you find top performers there too and it just trickles through the entire buying process.

But you'd likely have to overcome the objection of why they should let you in on the equity site and not just let you live onsite and perform those functions as a job...Time is money... and if you don't have money you should have the time.