Pros- - Outstanding cash flow- Great small community with good school system- Mixed Units, 17- 2 BEDS/ 18-1 BEDS/ 1- Bed- Low vacancy rate- Common area laundryCons- - Extremely old building, 2 buildings total, an old school turns into multifamily living, built in the 1900's- Exterior isn't the nicest looking, it needs a lot of TLC. - Not the best location, the community that its in is about 10,000 people in the state of Illinois about 30 minutes outside of St.

Urgent help needed:1 - Is this a common requirement?

There are numerous ways to structure it, the most common is a 1-5 year balloon payment where you'll pay them the balance you owe by refinancing with a bank, but you can get as creative as you want with it!  

It is very common to buy a property and find a long list of deferred maintenance and repairs.

In my experience, the most common reason for denying random access while in escrow is if the condo is still occupied by the seller or tenants.

Utah is not a community property state nor is there common law marriage. 

My question to the BiggerPockets community is if this is a common strategy?

There are three common ways, one is to do it strictly on an hourly bases, another is lump sum (usually based on their in-house calculations on who needs to work on it and how many hours they think it will take to complete) and lastly they could do it as a percentage of construction cost (usually in the 5-10% range, could be more).  

@Jeff CantrellMost commonly, It’s mixing of words and definitions between cash flow, profit, and income.You can have positive cash flow but after non-cash expenses (depreciation and amortization), you won’t have to pay taxes because your depreciation expense wipes out the positive income you would have had.

It is very common for background interruptions including repair or maintenance being done.Also consider the upside of working from home.