Is the loan to value based off the as is price or the after repair value?

But ultimately, I believe it is the property managers fault; perhaps they were rude with the exchange in ideas over the phone with the HOA which has prompted what I can consider an outrageous and unprofessional reaction from the representative.I think you may need to refer to the bylaws and see what language is used to clarify level of communication in regards to use of property managers as I feel it is bold that they "will not work with Touchpoint Property Management."

Should I go with a credit repair person to take care of it being as tho they are more eqipped with the knowledge to negotiate better?

Here are my numbers as it sits:Income:$2600Expenses:$650 - (vacancy, repairs, cap ex, management)$250- taxes and insurance$180- owner paid utilities$300 - my cash flowTOTAL: $1380Left to pay monthly mortgage: $1220So given these numbers I can still get this thing to cash flow, and if for some magical reason I could ever get the city to change the rental license back to save the integrity of the property, this would be a home run! 

@Eugene Rogachevsky What do you believe the after repair value would be?

You would have been able to write off the whole thing if the apartment was already there and you were just doing repairs and fixtures to bring it back to its rentable condition.

If the Purchase is $20mm and the down payment and closing costs, plus repairs in 30%, then the down payment/costs would be $6mm. 

@Bruce Lynn Yes none of them are move in ready but the city also provides a "scope of work" analysis with each property which give a pretty comprehensive list of repairs and code violations that would needed to be fixed before living in the property.

If paying cash you can only refi for purchase price not cost of repairs too from what I understand.

I don’t get calls for repairs and I know my investments are with experienced professionals.