I only know about the times where this was found out prior to closing, obviously I have no way to know about the times this shady behavior wasn't found out.Since you get a vote in who this tenant is, and it's retail, PSA that commercial lenders (especially the ones offering the best terms...) are starting to vet deals by how 'recession proof' the tenants are, even if they are currently paying on time.

If you prioritize debt reduction and long-term financial security, allocating extra funds towards paying off your mortgage can help achieve your goal sooner.

First of all, she tried to retype my contract because she said my original was too sloppy.

I’m looking to buy some single or multi family units for long term rentals that would provide at least a moderate degree of cash flow.  

This property was listed by them originally, before it failed to sell, and then they hired someone else to sell it.

We have had a Strctural Engineer out to the property and while we don't need to conduct repairs within the next 5 years or so, we will need to address both of these things at some point and it will likely cost us about 100k.Any advice on selling or holding for the long term?

They can provide guidance on potential legal options and rights concerning the city’s demands and the lender.Negotiate with the City:Seek Extensions or Variances: Your friend can request an extension on the deadline to comply or apply for variances that might allow the property to meet less stringent requirements.Explore Grants or Subsidies: Check if there are any local, state, or federal grants or subsidies available for renovating older properties, especially those providing low-income housing.Engage with the Lender:Discuss Financial Hardship: Present the case to the lender, explaining the situation and the financial hardship imposed by the new building codes.Propose a Loan Modification: Suggest modifying the loan terms, such as extending the loan period, reducing interest rates, or even deferring payments temporarily.Negotiate a Short Sale: If the property must be demolished and rebuilt, your friend can discuss the possibility of a short sale where the lender agrees to accept less than the owed amount to avoid foreclosure.Explore Refinance or New Loans:Seek New Financing Options: Look for other financial institutions or private lenders willing to provide financing for renovation or rebuilding.

We are not first time home buyers but have three single family homes ( rental) properties in California but want to buy our first apartment complex out of state for generating  cash flow for the long term.

The rental is in really poor condition despite the 2011 original lease paperwork has a move-in checklist that documents that the place was in good condition throughout.We came to discovered at the beginning of 2024 that the main tenant had a guest living with him and they were no longer getting along.

Hopefully, this provides perspective.Keep in mindThe Fed started hiking rates in March 2022, and only stopped tightening in July 2023, having lifted short-term interest rates by 525 basis points or 5.25%.Average 30-yr mortgage rates started moving aggressively upward a bit earlier (in January 2022) and only peaked (at just over 8%) in October 2023.