I picked up my condo for a great price and did a complete remodel which has increased its value by significantly more than I put into it, which made me think why don't I do this with other condos and sell them at a profit (hopefully).

It is real simple - you get a *FRACTIONAL* tax break based off an interest amount you *FULLY PAID*Say your tax rate is 10%, you earned 100K in income, you would owe (and paid) 10K in taxes.  

The long term maintenance is pretty simple.  

So they got what they wanted which was a chunk of cash up front and I got what I wanted which was a good return on my invested capital.The seller had a recent appraisal on the building so I offered them a bit less than the appraised value and we worked out a rent that is comparable /sq ft to similar properties in town.The seller gave me yearly rental increases and I gave him the option to buy the property back from me any time during the 5 year lease term because that was important to him.One of those classic win-win deals.

Or should it be something simple as Hi My name is Dean and  i am interested in buying your property at 123 Main St.  

I am biding my time a bit, last year when we finally got the town to phase out rent control on vacancy we were also able to get them to include a floor increase of 1.5% if CPI is less.

I put together an amendment to their lease, "deferring" September and then increasing their rent through the rest of the term.

I have noticed an increase in used multi-family unit hitting the market over the last 30 days so there are out there.   

How much rental increase that would provide.

Either find a bank with shorter or no seasoning requirements, might take you a while, and by the time, 6 months or a year has gone by, and guess what, you met the seasoning requirements.I worked for finance company for a while, and they have simple rules to implement, such as income requirements, 12 months at the same job etc.