the terms of the leases in place will dictate what you can and can't do.Chances are there is only 1 water meter, and splitting it 3 ways is usually the beginning of tenant-tenant conflicts.You could probably give somebody a rent credit to take care of the lawn, but if the lawn is generally used as a common area for all tenants, the landlord usually covers that cost.You could always change lease terms when the leases expire - but as a rule, the leases stay with the tenants who are in the property even when a property is sold.

Unfortunately, he had a change in his life that has tied up most of his liquid capital, but that was just an example.Bottom line is that there are plenty of folks right here on BP making a killing financing deals.

Does your advice change depending on what the repairs are?

.  ;-)Obviously you probably need partners for this type of deal (to repeat) AND they would need to have a long term vision.When your 'normal' strategy doesn't work, change the strategy.  ;-)

You need to incorporate the recommended changes everyone has suggested.  

(not so important but if they only require 15% down on a single family home that is usually a good sign that you are working with a flexible lender) Can I change title to my LLC?

Don't change your guidelines to make it fit.

Maybe that's changed).  

I am unsure if this changes for commercial, industrial, etc. 

While I am the credit reporting contact at my bank, I admit that maybe something changed I wasn't aware of?