If you are looking to reduce prices, find a small shop with a guy and his son who work out of their home and you will likely get better rates.

@Leniesia Dorestant yup that’s what my lender told me as well, TAX YEARS, which might workout since technically I was a realtor in 2019.

Thats what I would recommend, just make sure the numbers work out.

And you can use that syndication legal work on your next deal if what you are trying doesn't work out   I am currently raising a fund and the legal work cost $30,000. 

Not to say it might not work out OK anyway, but I personally don't see the reward here justifying the risk.I think the "right" answer here is that the closing would have to be delayed until the property can truly be vacant.

You may still end up with the deal even if the first time it doesn't work out.

It might work out in the short-run, but over the long term, you'll burn yourself.Other than that, make sure your brother really knows what's what with the property management aspects.

The distressed properties will usually be more from certain loan structures that do not allow hardly any workouts, weak net worth operators, sub-standard class of property within the asset class, etc.Most of the NNN my clients are buying right now are investment grade ( ESSENTIAL BUSINESSES).

It is unfortunate but this happens a lot where you really like someone but it just doesn't work out on paper. 

Hot water heater worked, roof didn't leak, and I loved having a garage to work out of and store my tools.