Also, if you don't mind... what is the cost of this?

Do you open an account to escrow your tax costs or is there another way?

To me a letter that the tenant fixes it would only be ok if they had xyz garage door repair specified because that vendor won't cut corners at tenant request.

I do a lot of accrual loans but on this scenario with a new build and only 25% down of the land costs only???

I’ll have to check on land cost. 

The cost of enclosed is huge and more risky. 

@Blaise Peterson from a PMC point of view:If the property is vacant, we'd just terminate the contract, because there's nothing really to manage and we don't just want to be used cut the grass.If tenant-occupied, there's a host of liability issues for a PMC if owner hires another agent to list for sale:1) Who knows what transgressions the Owner's agent will cause with the tenant while showing it, possibly resulting in the owner and the PMC getting sued.

A real estate agent will have access to the multiple listing service (MLS), which gives you a list of low-cost properties, such as foreclosures and short sales.Find your target marketTo find a potential house to flip, one of your first moves is to find your target market.

@Carol D.They are a regulation a+ offering so they will be required to report bi annually the financials to the SEC and you can see financial strength of the company.Just remember most companies may issue distributions but are not profitable the first few years due to high startup costs for a company

So she failed, has no documentation and may as well be making numbers up. thankfully its only a couple grand not the end of the world just move on and dont get so wrapped up in it... we all have bummer situations that cost us money it happens in RE ..