Had to replace a few things like light bulbs, some trim around the basement door. there is a finished room in the basement, I am doing some painting in there and it should be ready to hit the rental market.

Are there any legal and accounting brains out there who might shed some light on what could go right...or terribly wrong in this scenario?

In many cases, I think most seasoned real estate investors are going to be better than a seasoned real estate broker (or agent) because a seasoned investor usually is evaluating more properties by nature and has a more financially vested interest in being accurate.

It doesn't come naturally for most people, you just grow into it.

I'm at the head of it, so I see the drain tiles feeding it, but I guarantee everyone downstream thinks it's some babbling natural brook.

I see the 90 day rule in two lights, one, the market has changed and they can't restrict title forever, so 90 days allows markets to change and their agreed sale price may no longer be valid.

I'd look at it in much the same light.

And then you have area # 6 which is mainly East Nash with 37206, 37216 and certain parts of 37207.As far as buying actual apartment buildings, depending on how big & how many units you are referring to, you'd be hard pressed to find a good, full complex for sale, rather maybe look into multiple units for sale in an already existing complex.After being in the Hotel business for awhile, I know that there are a lot more day-to-day maintenance and liability issues, management costs and other misc factors in running a big complex that could add alot more expense to your overall budget, slowly eating away at your bottom line… You may have to think about and budget for the following: pool, dumpsters, common grounds, insurance, exterior lighting, signage, landscaping, security, employees, etc...

Once the bank had made a "final" decision, they naturally wanted new appraisals on both properties (since we had carried out fairly extensive renovations to each).

House has decent bones and prob a light rehab for rental or a flip.