You might also meet someone that could be a potential business partner.

Vacancy: I know it is prudent to be conservative with vacancy, but I have confirmed with the tenant he wants sign a lease for a minimum of 2 years and potentially up to 5 years.

They talked about the risks, but feels very bullish - My father-in-law is extremely stressed about this since we won't hold the title if anything goes sideways.

Reach out to a local broker and see if they can identify a carrier that would be reasonably priced for the house for a reference, or find out what you can do to remediate the risk to lower the premium.What town?

If more retailers vacate their space than those properties are at risk of losing tremendous value as it will be difficult to re-lease to a tenant that is not impacted by California's high costs to do business. 

Sell for $400k, he'll carry $100k of that interest only, and gift 10k/year for 10 years.I really don't want to pass this up, but putting in the amount of money needed for a tiny bit of cash flow, or losing money each month for a couple years would risk running out of money and pushing me back to a regular job.Would you pass on it? 

If the repair process requires painting the whole thing, which it may need to look good- I'd optimistically put the lifespan of a professional/specialized 2-part (epoxy or urethane) tub/surround (or tile paint) etc- paint job, with above average prep work at ~3 years.. a "high quality" tub respray like this will cost just as much as a brand new tub, and touching up/blending a spot repair is specialized, expensive work as well. but yes I agree with the other replies either way -(unless, *perhaps* there is already easy access from behind etc to get to the repairs and inspect flooring etc without taking tub out)- it makes sense to rip it all out so you can address any potential water damage, and overall there is no reason the resulting new unit shouldn't cost aprox the same ballpark as the repairs .. and new of course will look much better with a much longer lifespan. 

Partner Driven was interested in the Briar Oak deal in Crocker, MO, due to its high profit potential with a purchase price of $74,900 and a sale price of $204,900.

Partner Driven was interested in the Briar Oak deal in Crocker, MO, due to its high profit potential with a purchase price of $74,900 and a sale price of $204,900.

The cabins need to be remodeled to reach their full potential however we likely would not be able to do the work until next fall.