If it's an extensive rehab: new electrical, re-plumbing, etc. even if not visible from outside, I would pull a permit.

The lawsuit was settled with the developers and extensive repairs were completed by the HOA at no incremental cost to the residents.

They have been written about extensively.

I am in Los Angeles and there is a ordinance requiring "on site" property manager for more than 14 units, so, legally you will be required to have one, but I do not believe they have to be full time, or they necessarily need to have any extensive responsibility.I don't know the specific criteria that constitute an on-site property manager other than a title.

I have found some but of course they need extensive work.

While my plan is pretty extensive, the real estate portion is pretty simple for the time being. 

The contract has expired due to the buyer's lender not being able to perform on schedule and we have to decide if this property is a "keeper" or if we sign another extension and "ring the register".   

The process of buying a property that needs extension renovation can be daunting, so I hope the details of my journey will help others.

Purchase price: $1,400,000 Cash invested: $400,000 Stable investment grade assetStrong tenant with solid operational metrics at siteBuilt in 2005, the building has good bonesLong-term lease with extension optionsOutstanding Location in Close Proximity to Centra Bedford Memorial HospitalProperty sits on 3.35 Acres, opening potential development opportunities What made you interested in investing in this type of deal?

I sent him a lease extension until Feb, & have not heard a word about it, despite a few requests to sign it.I'd prefer to lock in Feb & look for a new tenant then, but as of now, I have nothing signed and extremely poor, intermittent communication, so I'm thinking I'll have to just put it back on the market.Any advice on how best to protect myself from a messy, no notice curveball?