Consider managing the property yourself to increase cash flow and control.

One thing that can help you determine what you're getting into is having a core sample taken of the property. it will tell you soil type, groundwater and rock depth. if some rocks are big enough you might need controlled blasting. if your basement is below the stream bed grade wise, you would likely have to be pumping water 24/7 during the construction part. im not sure how well a poured concrete wall with the waterproofing on the outside will stand up to the water, but of course it would be better than a block basement. builders would reccomend under drains to drain the water. the best way to do this is mechanically, without a pump or you could still wind up pumping water 24/7 after construction is complete.

If you can buy the 80k Bank 2nd DOT for a few thousand dollars (seems unlikely to me, but maybe you got lucky) you will effectively control, and upon redemption will own, the property and there is nothing the other investor can do other than paying off the 80K DOT, which seems improbable to me.

You came on the market during a tough part of the year (due to the vandalism) which was beyond your control but you need to do something to generate new interest.

A complete rewire with seven separate entrances, each at 100amp, could cost you as little as 25K or as much as 40K depending on how big the building is and how challenging it will be to run the new entrances to panels in each unit and pull wires throughout the unit.

Brokerages that control much of the residential market can and do influence where prices are set in reality.

My guess would be $90,000, but that could easily be $150,000 if you can't control the contractors, or as low as $70,000 if you don't have to upgrade anything.

That is from the federal side and is applicable to all loans, consumer, commercial, private, institutional, any note.Next, you get involved with a borrower using that money, controlling business or influencing operational decisions you are stepping outside the lending arena and taking on new liabilities that can place your funds at risk if there is any failure.Another comment, any fee paid that is required to be paid to obtain any loan is a cost that must be accounted for in settlements, there are a number of underlying laws depending on the type of loan but all loans and associated costs will be an issue under the tax code.There are thousands of attorneys out there I'm sure that do RE and think they know financing laws and regulations, they may have done them for years, doesn't mean they really know and most will never admit not knowing.Every bank I've seen had an attorney, all have legal advice and as I mentioned, there won't be a bank or any other lender around, that really makes loans that won't have some compliance issue.

I have the fix and flip scenario where I have a bit more control over the asset and the market (I am not exposed to long hold periods which open up market volatility and other risk factors) and Aaron has more of the buy and hold, often with seller financing.

It gives is fairly good granularity of access control.