Ave money you can easily buy business through marketing and ramp  up quickly but you need to pick  a market and master it then saturate it with your marketing.

The upper unit is leaking into my lower unit master bath.

The low down payment would only be to owner occupy one of the units. 3 units are identical, the "master" unit is actually a separate 2/1 house with a private yard, fireplace, and private swimming pool (which is empty and needs rehab). 

A good key option would include a master key.

BP investor, I have been looking at a few small(5+) to mid (30+)  units and have come across something called a Master Lease. in the present research that I have conducted, the Master lease looks like a hit run for the investor.

I did ask if seller would be interested in a master lease agreement and he declined.My question is: How do you determine the value/offer price on a property like this?

In the last few changed the 3 bedrooms up to 2 and made a great master and bath.

I did ask if seller would be interested in a master lease agreement and he declined.My question is: How do you determine the value/offer price on a property like this?

Im trying to send out a letter of intent for a master lease and option to buy on a commercial property in Orange County, but Im not sure of what are the master lease norms for my area.

I would have them sign a "master lease", "contract for deed", and a "promissory note" for 20k over appraised value.