I've seen property files in towns where a big stink was made on such issues, the owners simply waited the town out, remember who your dealing with when dealing with govt officials, govt workers...

I think this could be the best win-win scenario for you both, he gets his performing rental and you get your capital but at the best tax rate possible for the situation as it is playing out.

For many, the bottleneck to acquiring several buy/hold properties for cashflow is simply the lack of available funds.Fix and Flips find their way into most investors strategies because it allows the purchase of buy and holds at a greater rate.

If this is simply a concern you have thought of, forget it as a tenant making a claim is very rare and usually comes out of some other agreements that have failed, like a lease with an option.

I'd kill to have hardwoods underneath that I could simply refinish.

You need to check you local laws and codes but here in Baltimore is simply means it has to be renovated and brought back up to current code and get a Use and Occupancy permit before it can be used again.

The high bidder wins the auction and, usually after a bit of a process, takes possession of the property.

Simply by asking the same client as above if that yearly money includes any salary, would make the information in the application more accurate.

Just like games have an objective to win it, you must prepare a "goals sheet" and ensuring every move you make leads towards those goals, which you should have a list of too, as games do seem to have a play-by-play nature to them.

Who wins and at what cost, because Detroit is just the beginning...thoughts?