If the down payment is being applied to the purchasing price, i am not sure why people would be concerned about it.. all it really is a deposit you put for an apartment security deposit as well, but it could be because its a big amount of money given forefront and because if anytime during the due diligence period, something falls through and “potentially” not being able to get that money back...?

I can offer you a cash offer with a 45 business day inspection period.

Basics of the partnership:- All the properties will be in my name (I have the high credit & W2 income)- I will be investing $25-50k per year of my own funds into the business to buy more property- My father is in an all cash business so the idea is he will be getting his money in via renovations and ongoing maintenance/CapEx - I will be responsible for all the "white collar" tasks and hold ultimate decision making ability as everything is in my name- He will be responsible for "blue collar" tasks; finding properties, coordinating with contractors, etc..Our goal is to build cashflow for a 10 year period before we would every need to start "taking" the cash flow out of the business.

Hey Guys, I will be breaking down my deal in Sioux Falls, SD that I am currently under contract for and would love some advice/opinions while I am in my due diligence period. 

I think that this going to be a great refinance that will get you better cash flow, or speed up the repayment period. 

If the tanks leaked, remediation and cleanup will have to be done, and the property readings will have to be under maximum allowable percentages of contaminates for a certain period of time before the property can be re utilized.As to the asking price, either the seller doesn’t really want to sell, the seller wants to see if he can find a sucker; or possibly the value of the land for future development is much more valuable than the existing use.But assuming that the latter is not the case, what is it that attracts you to a deal priced over twice market value with a possible environmental problem to boot?

Here's an example:If your goal is to purchase a buy and hold rental and manage it for a period of at least 5 years, then odds are you'd want to do all the stuff folks above are talking about: join a REIA, research the market, learn about land lording best practices,learn the land lord/tenant laws of the state in which you will invest. 

Every pipe / joint pretty much  was frozen and burst in that period from Feb through June 2016.  

So if the original contract does not mention an inspection period, you'll have to accept it as written unless an amendment is signed. 

Clearly I want their things out of the house but it appears they are trying to hold me hostage and use the property for storage for an indefinite period of time.