I am currently not working (I really burned myself out of working when I was in college.

However, at current market rates - the property can be stabilized at a ~6.5% cap rate as old leases burn off.The new buyers, TARGO Capital Partners, have a comprehensive plan to reinvigorate the buildings and maximize value.

Yes, there's always that newbie that has a lot of money to burn running around the block though.

this year maybe strange with the mountain burning down there.. 

I should have clarified on my rant comment, I have no personal knowledge of any lawsuits either, but do know of MANY landlords burned for rent money all the time by these types and the legal system that likes to protect them.

I'd burn those notes. 

The smell burned your eyes and throat as soon as you walked in...if you decide to do it, get a very healthy pet deposit/fee and do regular inspections.

Lastly, the city confirmed that if it burns down I would not be able to rebuild as a triplex and it would need to be a single family home. 

It's very disconcerting. yup goes all the way down to the depths of the earth.. and those poor soles who got burned by molten lava

I have seen the same and was burned by such instances of fraud.