Then, go talk to each of their lending departments and see what they can offer.

We will likely fix it instead of demolishing it,  a new spec build may be outside of our budget (dear kids are expensive). 

Make sure you know how to determine cash flow, and first see what both options offer in that department.

If you tried to put in a claim with your insurance company for fire damage, and they get a report from the fire department saying fire alarms didn't appear to have been in place, I don't think that would bode well for your insurance claim.

Aaron McGinnis I am giving him the deposit at the building department and then he is walking right in and filing permits.

If these were hosed down by a fire department thats going to have its own damage. 

So my question is there any recourse that would allow the state code enforcement or health code department to come in and take over the property

They are not an expert in one thing so tend to make mistakes in a transaction that cost the client dearly.

Also, the units are close together so a bad tenant from an adjacent building can drive off your tenants since leases mean little and they can depart at will.CondosMost investors consider condos due to the low cost of such units.

i am in the midde of looking for student and summer rentals. i really appreciate the advice and i did review the bp episode 140. i learnt alot.If i may bring up for anyone in the student rental business, does it make sense to reach out to the university student housing department?