If you cannot find a resolution and the tenants who are calling the police/fire dept. are not manageable then you should non-renew them.

I would love to hear more details about that - when was the deed restriction discovered (post-closing), what was the resolution, etc.  

I don't think I'm anywhere near ready to make a deal, but want to get practice analyzing deals, understanding the language, the roadblocks, the options to resolution, etc. but that's the short-version of how I ended up here. 

If so, and there is an approved variance, then get a copy of the staff report and a copy of the Resolution that the Planning Commission or Zoning Administor approved and signed to look for any Conditions of Approval that affect the site.

Also, throughout the foreclosure process the owner has filed several court answer documents stating that they are still attempting to find a resolution, but their options are running out (e.g. cashing out IRA).  

@Dustin RuhlWhat you should also look at is default rates vs foreclosures as lenders have moved to alternative resolutions besides foreclosures due to lengthy foreclosure timeframes.

Next week I am closing on the property and  one of the contingencies is that the HOA initiate the repair and resolution for the issue.

But in general, you want to stay away from properties with issues with ‘unknown’ resolutions.

The conversation should be around why this is valuable to him and how you will bring him value he can't find in his current 401k - not how you will sell him on the deal.If he is not comfortable, have an open discussion on the specific points and try to come to a resolution.

- No lights on in the picture, terrible resolution and contrast (6th picture...also what is with the black things on the ground on the carpet?)