I always opt for a full title search and title insurance to play it safe.

I'm looking for someone to remove a dead tree and grind a few stumps. 

Senior Citizen tax benefits hint that the owner might be dead so I also check the Social Security Death Index (Ancestry.com, subscriber service).CAMA.

ThanksGreg You didn't specify the upside nor speak of a value add play in the deal so it's a little difficult to speculate how to best structure a creative financing package.Assuming it's a value add play with good risk adjusted gains at the end of the process then maybe the safest route is to negotiate a wrap transaction with the seller, and if your are concerned about a due on sale clause make it contingent on the lenders approval.The seller will confront these same financing scenario issues with all other buyers so if they want to sell the property then they can either deal with the issue with a reset and able buyer, you, or kick the can down the line looking for another buyer who maybe willing to assume a less than stellar financing package.As the buyer though your only concern should be the financing package that delivers you title, assuming you plan on making extensive improvements to the property, and allows you to earn what you determine is a reasonable cash flow from the project.Options aren't bankable.

So now 5 months later with at least 2 more to go, you are out 5 months of rent, $7,000 in legal bills (and counting-we are not even at trial at this point) and by the way, if the tenant wins their case, the insurance company probably will not cover the judgement as it is excluded in the policy.Also, if the tenant decides to call code enforcement and they find mold, now you have to remediate professionally (again not covered by insurance) and it will cost you about $15,000 or more because they have to do the whole building to kill all the mold.Oh, and by the way, the tenant called code enforcement and there is no visual mold but all this is going on anyway.So legally, you may not have to but it will cost you a lot of money when you get a tenant who can play the system.Make the attempt to fix it so you can say you did.Tom

Also, looking for a play on multi-plex.  

It is all about suiting up and playing the game each day till your hard work and intelligent choices brings the money for your cup of Starbucks.

hi there, west of I4 in that area is scary- could be a long term play if the city cleans up the poverty and crime.

Then it begins to play the gamble of how many months does it take for the bank to foreclose on the asset and how many months of rent can you collect in the mean time. 

One of my customers at my work came in playing at my table and have told me that the first one would probably be the hardest then after that, it would be easier to maintain more later on.