I'll update the postProperty value is $125k  means % return for the investor a Savvy land note buyer will want a 20 to 30% apr return on land only notes. 

The first question is it a legit issue and most importantly is the lack of me doing it make the home unsafe or uninhabitable?

We loved the old charm of the building.

Welcome @Fernando Guzman, to get the most out of BP I recommend filling out your profile and telling us a little about where you're looking to invest and what your goals are

It is the easiest barrier to entry (best Interest rate and low down payment req).

That's where you'll really find your "tribe".Happy hunting, would love to hear more about the local market dynamics you are serving.

Open to insights from anyone with experience in the area – looking forward to building valuable connections here and achieving great results together.Thanks in advance to all who can help!

Mike, Welcome to the 'club'.We worked with HOA and PUD when we first niched to real estate. 

I’m buying the property with equity partners…………..I don’t have any money personally to invest5.

And the IRS will ignore it for tax purposes.