These items are usually considered “amenities,” and their absence does not make a dwelling unit unfit for living.These agreements to repair are usually enforceable in accordance with the intent of the parties to the rental agreement or lease.Tenant’s agreement to make repairs The landlord and the tenant may agree in the rental agreement or lease that the tenant will perform all repairs and maintenance in exchange for lower rent.99 Such an agreement must be made in good faith: there must be a real reduction in the rent, and the tenant must intend and be able to make all the necessary repairs.

I hold a managing broker license and also perform property management about 2 hours away from you.

If there was rehab to be done you get that underway and then perform the property for top rents.

Offered me this deal:House is located in nicer KCMO suburbs and easily comps at 112-120kHouse in need of about 23k in updates/remodel (they would perform)Has current renter that has been there 15-17 years but would probably need to leave for rehab (lease is up early 2017)Offering me value purchase price of 83500 (over 10k less than comps minus repair cost)I would get portfolio loan with my local bank there (already approved) at 30% down ($25050)Would open a HELOC to perform the rehab (max $23k)Once complete, get a cash-out refi (with same bank), at 80% LTV of (hopefully) new value of 118k which would cash me out 24k -- enough to pay off the HELOCWould put back on the market at 120k, and if sold would net 25k+ on the deal, otherwise could continue with prior renter or find new renter (pretty easy in this area)Obviously quite a few things would have to go right including the reappraisal, but the comps look pretty easy to obtain that new value.  

Be realistic - it may take a year or so for you to turn over your tenants and get the property performing like it should/can - but trust your due diligence and have a plan.

I imagine some properties will perform better than others overtime..?

I am interested to know your thoughts on due diligence process for performing senior notes and things you wish would be there to look at or easier to find out or deal with.

DSTs are offered and managed by firms who perform a myriad of functions on the investors’ behalf.In the syndicated real estate market today, Sponsors almost exclusively use Delaware Statutory Trusts (DSTs) as their legal structure.

With you living there you would be paying around $490 to live, assuming you take one of the lower performing units. 

The plot thickens...Did the LL perform a move-in checklist walkthrough with you?