The proper permits were not pulled, zoning/inspection issues were a second thought.

The key is to put the work in up front to vet your tenants properly and make sure they understand your expectations.

They are not as careful, use harsh cleaners even if you leave them products for granite, aren't as good about keeping on top of spills and stains, and most landlords don't take the time to seal properly.

The 10% is usually negotiable based on asset quality which with proper screening due diligence  will work. 

Both Dallas and Austin are touted for appreciation more than cash flow (I've read that it can be downright difficult to get Austin and Dallas proper to cash flow due to the property values there), but if you look in the suburbs you might be able to find something that can work for you if you find a good network of support.

Everyone is saying 1-2%, but that is for a syndicated deal, where the GP fronts the expenses out of their own pocket such as PPM, Phase I, costs to inspect the asset...I don't see any of that in this deal, so I'd say the proper acquisition fee in this case is 0%.

The sale will only extinguish matters which are junior to the creditor asking the Sheriff to sell the property matter that have been properly served. 

I am not a masonry expert or engineer, just a carpenter that knows doors and windows need a proper opening and the weight of a building needs to be supported.

Especially on 100+ year old buildings & especially if you don’t have scale.For buildings like this, you need to go through a whole building’s mechanicals and capex items and estimate a monthly capex number properly. 

Please guide how to handle it properly?