Most likely, if he can't produce a lease (which if he isn't on the lease, he can't produce one), they will escort him off the property. 

IF their is still excess water to deal with drain tile and rock is best method to remove along with a sump pump if neededMy thoughts are not necessarily in order.

Hi Gordon,Yes I've closed 3 deals with them (1 portfolio 9 property package refi under a brand new DE LLC, along with 2 separate rehab line of credits ive closed under different LLCs - 1 indy, 1 little rock).Im happy with my choice although they aren't the cheapest, but it got the job done (BRRRR a package of SFH/duplexes). 

Do you have any real estate agent friends that are top producers at their firm?

We brought the common wall with the adjoining unit (along the kitchen and bathroom) up to current fire code (on this side):Due to our proximity to the property line and the neighbouring building, we also covered the rear external wall with resilient channel and 5/8" fire rated drywall to allow us to use vinyl siding, versus more expensive non-combustable siding solutions, when we re-clad the building.In addition to using rock wool (Roxul Safe-n-Sound) insulation in our fire walls, we installed it in all bathroom walls, the bathroom ceiling and in the "TV wall" and walls and ceiling surrounding the laundry space to provide sound deadening. 

You totally rock! 

If they are asking $2.5M for the place and it needs $1.5M in CapEX over the next five years, is the property really producing the income necessary to justify a $4M outlay?

Go to the real estate investors group in Little Rock and make some friends. 

I'm currently based in Little Rock and Laramie Wyoming, but my target markets are flexible.

This site rocks!