The #1 reason why landlords fail - according to the American Apartment Owners' Assn - is failure to manage to the lease. 

Up until November, actively licensed VRD (Vacation Rental Dwellings) could transfer one time to the new owner.

I suspect maximizing the investment might make it slightly less desirable as an owner or at least the renovations might have lower ROI if sold to a homeowner.

It’s time to look into home owners/rental insurance.

Would I go to the current owners bank to see if they would allow a subject to loan? 

Even in a lousy economy, college towns generally grow in demand because people go back to school.  304 N Jefferson Moscow ID - Single-family craftment house on triple lot in R4(high density in my town)  Price - $325K, $100K down owner carry 5%, I am converting into a duplex. 2BR 1 BA - $1600,  4BR 3BA $2600. 

A SFH in a neighborhood with HOA or owner occupant neighborhoods your rental property can stand out in a negative way because tenants don't waste their money watering the yard. 5.  

Unfortunately, the previous owners used the same lease for this garage space as they used for the residential units. 

If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

While I have a fantastic rate, the co-owner's giving me the option to refinance or he'll force a sale.