My attorney says he is a hack and that the plan is atrocious...whatever.The bottom line for what you are doing, imo, is to look for an *approved* plan, prior to that it's anybody's guess.

I ignored it until the last minute, like a week prior to expiration date, which happens to be late December.

I would never be able to get a plumber if I told him a prior owner was at fault go find him and get paid.

That said, prior to completion of probate, or before title to the real estate passes, the creditor has a chance to become part of the probate, but if they do not act, then they may not have any standing.

Account Closed You should talk to a CA attorney, but are likely going to have a hard time suing the prior owner unless he/she made disclosures relating to the condition of the property that you can prove were knowingly false.

In my county, generally, all prior liens are extigiushed.

Truth is, I have no prior experience in this field whatsoever, but i've been spending the last few days studying and reading as much as I come across to get a better idea of what I'm getting into.

My other litmus test comes from my prior cable days, which might place it at 9X to 11X cashflow (NOI), which also places value very near $80K.The capital improvement required in the water distribution system seems like a no-brainer, but absent separate metering, I wonder if you could immediately divide the water bill by the current quantity of tenants and have them begin to pay this immediately?

@David KendallMy first question would be did you research how much parking was available prior to purchasing this property.

Provided that the issuer of securities does not otherwise have knowledge that such person is not an accredited investor, the issuer will be deemed to have taken reasonable steps if:with respect to purchasers who are accredited investors based on income, the issuer reviews IRS forms that report revenue (W-2, Form 1099, Schedule K-1 or filed Form 1040) for the last two years and obtains a written representation from such person that he or she has a reasonable expectation of reaching the income level in the current year;with respect to purchasers who are accredited investors based on net worth, the issuer reviews bank statements, brokerage statements, other statements of securities holdings, certificates of deposit and/or tax assessments and appraisal reports issued by third parties in order to verify assets, a consumer report from at least one of the nationwide consumer reporting agencies to verify liabilities and obtains a written representation that all liabilities necessary to make a net worth determination have been disclosed (all information reviewed may not be more than 3 months old);the issuer has obtained a written confirmation from a broker-dealer, a registered investment advisor, a licensed attorney or a CPA that such person has taken reasonable steps to verify that the purchaser is an accredited investor within the prior 3 months and determined that such purchaser is an accredited investor, andfor purchasers who previously purchased securities in an issuer’s Rule 506(b) transaction prior to the effectiveness of Rule 506(c), a certification that such person is an accredited investor.A simple Google search has a bunch of third party verification services.