Here are a couple of articles that outline the cons/pros of 721 UpREITs.https://perchwealth.sharefile.com/d-s556dbdb44b3b436c93a0ce1... 

Did you post about the deal and outline how it's working for you?

the lienholder must still go through a foreclosure process in the Massachusetts land court, the complexities of which are more than I would outline in this post. 

Here is the first result from Google for "20 unit apartment building plans" https://www.togal.ai/blog/20-unit-apartment-building-plansAny plan you pull off the internet will still need, likely, thousands of dollars of architectural work to meet your local building code.Beyond the plans, which don't outline any finishes, you can swing a budget 50%+ if you went high end finishes versus low end.  

Go in and get the keys and any info you may need (copy of leases, tenant contact info, etc.) and make sure the next person to manage the property has everything they need to do the job effectively from the start.If you signed a contract with the PM, then you'll need to examine your obligations outlined in that agreement and any "out" clauses you may need to reference when telling the PM you're changing directions.

lolBased on the items you've outlined in your repair list, methinks $24k is too high, but if that makes you feel better, so be it.

And/or get something from the 1st mortgage outlining that they are obligated to pay the partial claim in full.Who is the 2nd mortgage with?

@Michele Stone and @Brandon Turner Do either of you know of an outline of questions to ask a real estate agent when interviewing them? 

The most obvious point slipped my mind when giving a quick outline what a note buyer will want to ask when buying the cash flow.

Your note would outline the terms that include the terms of the payments for the 120K and the terms of loan for the $30K.