So naturally it's easier to damage just by rubbing up against it.

He is a scientist by nature and so is his companyHis company will be leasing the building (5yr) so all rent is coming from him.His 2nd will have a 4yr balloon so that he will be paid off before the lease runs out.I offered to use a loan servicing company so he is sure that the bank, then his 2nd, and then I, get paid. 

The only heat source for the second floor apartment is a large free standing natural gas furnace that is 14 years old.

That would work but being new to investing, I preferred the partner was local with a little more personal interaction.

Also, based on the interaction between the agents, you could come in even lower and see if they take it.

(Naturally, this excludes appraisal fees, lender points, recording fees, taxes, etc...Another way to phrase, if I'm a cash buyer purchasing a REO, what "Title" expenses do I need to be prepared to pay?

What extra costs will be encountered due to the historic nature of the property? 

The main issue that I have with condo's are the high condo fees along with the unpredictable nature of association financial health as there have been so many foreclosures.

Set up a keyword alert for your area and interact with the other people in your area as much as possible.

@MItchell ComeauWelcome to BiggerPockets, a place to interact with a vibrant REI group, learn the real estate business and language at near zero cost.