Our business partner also believes if we don’t sell the house in the two week time period before the asbestos abatement is completed, we have lost nothing and we can move forward with the sale of the home with the asbestos problem resolved.Whaddya think ?

Look forward to seeing your progress. 

But they will need to see bank statements and even credit score info before moving forward, you will have to submit for draws during the rehab, and they will hold some of the $$ back until the rehab is complete to their satisfaction.Bottom line is as an investor (from your perspective, not the lender's), you should always have the cash saved and available to fund either type of deal without having to take a loan from another source. 

From what I hear, lessors clean up on those deals because the lessee for whatever reason cannot go forward when it's time to exercise the option, thus keeping the option money. 

Also, I'm definitely looking forward to attending some meet ups. 

I would like to find out the rule to calculate property management fee.Looking forward to hear from you!

I look forward to catching up with everyone going forward!!!

Little to no equity with a potential capital gain and depreciation recapture.I have a similar situation with a condo I bought in 2006.You can still do a low equity to zero equity 1031 to push forward the depreciation recapture and capital gain.

Looking forward to your comments!

I will have to think long and hard before moving forward with this one.