Now what if the seller offers to wrap the existing mortgage and finance me that way.

Following the legal process to the letter every time a tennat pays late until you ultimately non renew or evict has nothing to do with being nice or not.

I may just be asking if a feature exists that maybe doesn't.

If so, you could purchase the property inside that account and possibly leverage it too with a non-recourse loan if you needed. 

meaning tear down the existing house ?

If existing tenants were acquired through the purchase of a property could additional fees be tacked on for the use of a parking spot / storage?

If they don't know and you haven't been paying the additional premiums for such coverage and something happens, they are totally in their right to not only not pay out the claim, but to non-renew you as well.

@Michael TootelianThrowing in my 2 Cents - From a lending perspective, it's important to understand if the condos are warrantable or non-warrantable.

I have no idea if such a law exists in Illinois and whether it applies to a 7 unit.The fact that you didn't deliver the $5,000 to him suggests that --- even if you had an oral contract --- it's too late to enforce it.

I’d like to push all tax write offs to the non-Trump tax cut era.