We improved operational efficiencies by adding 3rd party management and repositioned the tenant base.

Payment may not be made by third party checks.

Get an objective 3rd party to review your advertising.2) Why do you say that upgrading won't attract more interests?

It looks like more people (not on the lease) are living in the apartment (2 to 4), drinking, smoking, fighting, load music and partying goes on until dawn.

@Katie Weinstein couple things about commercial loans that stand out to me from your post:1.

Verbal agreements have no legal enforceability.....only those in writing and signed by both parties.  

We plan on moving out of the property in 1-2 years, and without us living in the property, we would be adding another ~$700 to the rent roll as well as property management fees.We're thinking this looks like a good deal from where we currently stand, especially if we can purchase the property for less than the asking price, but we'd very much like to run this by our more experienced peers and make sure we're on the right track before we jump into our first investment property.Feel free to ask us any questions, I'm sure we've missed a thing or two in our analysis.Thank you very much and cheers!

Sad part is, that tank was installed in 2011, so it was a big surprise that it is leaking.

There's no real winning with wine as a gift except at a dinner party.

so this is an off the market deal, as it stands today the market value comps are at $130k.