The walls inside of the home were trashed, but the whole inside was repairable for about 1500 in materials.

., you’re only getting paid $2/hour (example) and a whole lot of stress.

I am assuming if I convert the property into OO for 2 years the whole lot will not be subject to tax if divided and sold.The original value on the whole lot was set at $6250 and I was later offered $70,000 for the divided piece.

If you just do wrap sales and convey title it will be a whole lot easier.

The property as a whole with a 10% vacancy is not doing bad at all.

Here in SE England the 5-6% is before any expenses, so if you have to rehab or replace items you can be down even more points.On a wider note I am more confident the US has reached the turning point than I am about Europe, the whole Greece thing is making it very hard to predict the future.I am concerned about people with things to sell and the distance that puts them from the truth, that's why I started this thread.

I have been renting this house for 3 years - whole time with positive cash flow and zero vacancy.

Being in that position you don't know the whole story behind the negotiation.

That changes the whole equation for the economics - whether I chose fewer apartments, apply for variance etc.Short answer, I want to know right away.

Again while California and some other states may have some better functioning condo markets, the lessens learned stem from the broad picture of the whole nation.