It sounded like you meant"sell the property for less than I paid".

It was built on a crawl space which meant no leaky basements and its small size meant short mechanical runs to fix.

I meant add it back in as far as calculating your income.

I think the smell was mostly just from being dirty than it was from lots of pee.This isn't meant to debate anyone.

I meant I COULD, but it would make for a harder time laying flooring.

@Ian IppolitoPardon my wording, I'm essentially still a novice at evaluating deals, what I meant exactly was that if the refi goes right after year 1 and the sponsor is able to get a 75% LTV refi based on the 8% cap rate and increased rents (from the 10% at purchase), investors should be getting a very significant amount of their money back, so after that the risk is minimized in my opinion.

That is what I meant. 

We call both of the above "redneck real estate contracts," meant in a "hmmm ok I guess technically you could consider duct tape a repair" sort of way, just like any agreement that's signed, has consideration, etc etc, is 'technically' a binding contract. 

I'm guessing that you meant the office building a couple buildings down (to the right as you face 1100).

I meant to say that I'll be operating these parks.