Let's say $600,000 with the original $195,000 taken off that gives us a remaining $405,000 remaining.

Boston proper and most areas inside RT 128 were well under 1% - commonly 0.5% - 0.8%.I'm seeing much better numbers here, and unlike Mass where a "professional (deadbeat) tenant" could tie you up in court for a year, in Maine I'm hearing that the absolute worst case scenario is 45 days.

The portion of the estate I'm receiving is a share in a REIT that will be tied up for the next 3 to 6 years.

That will tie up the property (and your money) in court for a while.- There is a possibility of a homeowner filing bankruptcy after the auction which will complicate the eviction process and delay your possession.- There is a possibility of unpaid property taxes, HOA dues, city or state liens that may attach to the property and will become your responsibility and increase your costs.- If there are IRS liens against the owners, you won't be able to get title insurance for up to 180 days after the auction.

This is due to the unique intrinsic properties of human habitation tied to human multiplication.

Proposal:I partner with the owner and finance the deal so that he maintains 20% of the complex with his remaining equity.

There was an agent there who said they wished they could do that, but their license ties their hands up way too much. 

@Anthony DooleyThanks for the suggestion - fortunately we know the area decently well, so I’m not sure we want to tie our hands for a year lease. 

, or at a minimum, look great on a balance sheet of assets and liabilities.It will tie up some funds in the meantime, which will hinder our ability to purchase more property should the right deals come our way, but this is a long term play.

This is different when just getting a loan that is not tied to profits.