lol i thought the reason many sellers like cash buyers is to prevent the showings..

None of the students on my team, which include a law student, architectural student, and urban planning student know how get things off the ground; including researching historical preservation acts that protect the property and air rights which would prevent building up.

When I see a potential flip property that has been on the market for a long time I can't help but wonder what catastrophic defect it has that has prevented someone else from purchasing it.  

They also budget for annual cleanouts and minor rehabs mainly plaster repair and paint.As Steve stated you probably can’t get around the tenancy issue with multiple leases and I would imagine that local law also prevent you from renting them out as individual rooms either but it may be worth looking into.

I understand that is a cloud on title, but will it prevent the sheriff from evicting them?

When they use it in a food service envoronment as a preventative, it's a couple of ML dumped into the drain every night.

But don't then go and say you're doing things to prevent the tenant's failure to perform - when specific terms in your method do not really do that.

(Note:  The above presumes the deed restriction doesn't forbid you from putting it under contract, which I'm assuming it doesn't...but you need to verify that)(Note 2:  If you're selling to an FHA buyer, there will be restrictions on the FHA side now as well...and that could prevent you from putting it under contract for 90 days. 

It is currently at 10 loans, however most lenders have additional underwriting overlays that may prevent them from lending more than 4 loans.

We have a proposal on the ballot to limit leasing to 25% of the building (but with a hardship exemption), with the expressed purpose of preventing the complex from becoming unwarrantable for lending and preserve property values.