I can work on a T-12 or a Pro-Forma package over the weekend.

Because long term that should be a the goal, both sides rented,I ran the numbers thru my excel pro forma program, but i created an estimate of $2,200 for dwelling insurance, and left off PMI.

Weekly status reports are tracked for we and our investors to make sure things are tracking as much as possible to our pro forma projections.

Pay it off in cash (another 13K) or put your required down and you can borrow form a new loan.

Highly leveraged builders and developers that made it during the boom will go bankrupt when sales don't match pro-formas any more. 

@Justin Hayman gave some good advice, and I'd echo what he said.In addition, I would spend some time with the current owner to build a good operating pro forma.

Here are some of the state statutes for MA: General Laws Section 62 http://www.mass.gov/portal  

California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Form a company a S Corp is super cheap and create a free website on wix to add credibility.

I've been looking at an offering memorandum for a property and am having trouble understanding what these unit mixes are. More specifically, what do the "NP" and "U" letters mean? Any response is greatly appreciated!