How likely do you think unforeseen negative aspects of changing a large part of how our economic society operates are if the code was so simple a monkey could do it?

Good to know there is a simple solution because there are a lot of potential propeties out there with weathered aluminum siding that wouldn't generate the income to justify replacing the siding.

The 8% came from an 8%+ comment in Bernanke's timely white paper supporting the FHFA proposed program.

Ask a couple of property managers and look in the paper and on Craig's List to compare rents.

That is why I'm looking for a simple solution like a notarized document stating a successor.

Unless you see wording like "bank approved price" in the listing, assume the bank isn't even reviewing it yet.As to your particular question... the answer is simple, offer what you believe it's worth.

A sturdier railing on the steps leading into and out of the unit would be good.Since you suspect that this tenant could very well be a long-term tenant, simple adaptations may pay off in the long run.

Even if you papered up correctly and did everything right if the investment was not suitable you would be on thin ice with a judge.

Without researching the issue, the first thought that jumps into my mind is a 99 year lease for 50% of of the fee simple.

Even something as simple as paint can require the approval of the HOA.