For larger "improvements" that were not on the {near term} plan for the property, we negotiate a rent increase and/or extended lease term {Naturally, it would have to be a tenant whom we would like to keep longer ;)}.

Our birding extends as far as our backyard.

It's very difficult to find someone who is willing to extended time and effort into someone else's life let alone their business.

Usually commercial operators have a couple of dollars to extend the times of decisions compared to most residential borrowers.

Since it balloons then, you will have to be able to somehow refinance this property before that point, or have an arrangement in place to extend the duration of the loan.

As I mentioned as always there is a significant "back story" that extends far beyond the scope of my relationship with this forum.

Because we are buying the property with the cash we cannot extend or get out of the contract because of a loan contingency.

I brought in my carpenter to patch the roofs, ceilings and floors ... and to extend a closet to capture the space in one building and extend two kitchen to install apartment size en-suite laundry in two units at another building.If it's not being used and it is in disrepair, I would remove it at lease to below the roof line (ceiling of the top floor).

Negotiate and get it as low as possible (say $460K).Then put a 90-day option to buy on it with a $100 option fee (with a right to extend for another 90 days...giving you essentially 6 months to tie up the property).Market it like crazy (put it in the MLS, put bandit signs, Craigslist, etc.) to sell it to an end buyer who is prequalified for a mortgage for $610K (lower end for a quick sale).Equity partners won't work for a mediocre deal like this.If it's not cheap enough to wholesale, it's not cheap enough to partner on.Even if it's not cheap enough...you can still make money on it.Let me know how this deal goes.

The heir opened probate bc their extended family is kicking them out of the house.