FHA sounds wonderful in the beginning until you're paying 100 a month or more in PMI (that's -$1200+ to your cash flow for an investor where your chances of default are low) and you have no equity in your property and you want to jettison after 5 years.

@Bill BrandtHey bill, not sure why you came out he gate sounding so angry.

But the broker hasn't pointed out any errors in what I have presented (he's trying to sell "potential" and "upside", making it sound like my fault, etc.).I've already put in quite a bit of money (attorney fees, inspections).

It sounds like you'll be using a PM but I wanted to illustrate some of my experiences for some of the drivers of vacancy rates. 

It sounds like you're trying to steer the conversation on the merits of certain dog breeds versus others, but the data is the data - despite any personal anecdotes people may share. 

Don't underestimate the costs for the ROW permit and public improvements - you'll be obligated to do everything your property touches and bring it to conform to current standards, including alley if it's on one.Fire and sound separation codes are much stricter now than when much of our local apartment stock was built, so that's another thing to watch out for.

Coming up with $134k plus potential future drama sounds rough.   

They could call your local parking enforcement or law enforcement, but it doesn’t sound like that’s what happened.

sounds like she just wanted the convo to be over.... 

@Joshua Lee Wegner you can't stop the train if this is slated for sheriff sale...unless there is a redemption opportunity...but you'd need to settle the property owners debt to bring the mortgage current...this doesn't sound like there is any opportunity to acquire this property...it's too late...the only opportunity with these is to negotiate with the lender...sell it short , maybe...have you spoken to the lender?