Not saying they would win, since Muni Water districts would be ultimate defendant but landlords always get named and are forced to hire legal.

@Shawn McCarty Yes, it will take some time… You should be able to acquire one property every six months pretty easily… Two per year adds up pretty quickly… That's why they say real estate is the get rich slow scheme

The biggest secret of our business is the riddle: "How do you make $10k easily in real estate?"

They could also very easily respond with a counteroffer on a CAR form that would remove any issues they might have with your purchase agreement.  

( here is how good transactions go down)  Most win and some lose its a investment and most can be controlled if you follow the correct processes ...  

I wholeheartedly believe that nothing works in this business unless it is a win-win.

Here's the essentials:~900 sq.ft 2/2 condo w/in unit w/d - Mount Prospect, ILcurrent tenant signed a lease 8/1 - 7/31, just asked me if he could have out 10/1.$1150/month rent - about average for the area$67k left on a $73k loan @ 5.75%, appraises at around $90 (so 25% LTV) - $900 PITIcarpet will likely need to be replaced after this tenant leaves - had 2 large dogsall major appliances ~7 y/o and in good working orderI bought it in '09 - it was my first home purchase - and lived in it till summer of 2012.  

The basement could be finished out with small kitchen, and three bedrooms and still have an unfinished area for storage, mechanicals, and w/d.The basement needs finish out/remodel work, I haven't decided what to do with it.The upstairs with light cosmetic remodel (around $8k) will rent for $950 easily.  

Can't win, it seems...Could the sloping be considered a construction defect?

We target distressed sellers and relieve them of their burdensome properties while simultaneously creating a win/win situation for investors and ourselves.