I actually did put that list I described in my comment to use a couple weeks ago - didn’t go too well.

Chris,Based on what you're saying...with the caveat that I have not seen the pictures though...I think there's a way to repair the property and not have to demo'ed it.One of my friends in Chicago found a property worse than the property you are describing.

Also, from the way you describe it, are you sure it would make a good rental?

In August of last year I came across an advertisement for an online auction which described the property as a "fully leased and updated duplex" in Baltimore. 

I do most of my work in Fairfax County, VA and know the area you described well.

His approach is generally just what I described above, except that he's tested so many ways to phrase questions that his team has gotten really, really, really good at it.We're looking to implement something similar at scale here in a few months.Best,   Biggerpockets resident Metaphysician and Empire Builder,The Money Dummy

We do this, and the process is something like:1) Regardless of anything, your situation and process will be different than what I describe, because every property and community is unique.2) You need to check your zoning.

Hi Molly, While I’m not a lender or an attorney, I have seen similar situations as you describe here and have 20+ years experience analyzing leasehold interests.Unfortunately, your options for financing are limited because you don’t own the land under your improvements.

From what you describe, you do not really need the new safe harbor rules.

@Chris SeveneyI can’t comment on residential BPOs, but commercial BPOs value is identifying and describing the property, the value analysis is worthless.