There is the argument of cashflow Vs equity investing, and we can get blue in the face discussing it.

I could barely see the seams.  

I guess I trust myself to be the face of the business more than someone else.

If they do and get it, and flip it they could get in huge trouble and face big fines.

He is facing foreclosure soon.

I can't tell you how many times a prospective tenant has whipped out a compass to see if the rooms/house face the "proper" way.You can ignore it, or worse, make light of it, and lose prospective business; or, you can roll with the flow...make lemonade out of lemons...Close the Deal.

Check it out, its a bare bones run down of the process (in my experience at least).http://forums.biggerpockets.com/viewtopic.php?

If I was to breach the contract at closing as the buyer, I would be responsible for many fees and possibly facing legal action.

Interior Information Appliances: None Floor Covering: Carpet, Hardwood, Laminate, Linoleum Basement: None Bathroom: Bath Tub Upgrades: Features: Exterior Information External Facing: Vinyl Siding Garage: None Garage Spaces: 0 Driveway Details: None, Lots of street parking. there may also be room to put in a small side drive with the current building Parking Spaces: 0 Location Details : Close to All Services, Highway Access, Lake/Pond/River, Near Park, Near Schools, Recreational/Community center, Water View, Country Community Exposure: North

The new tenants for both of those barely qualified.