The owner wants to sell.I pay rent (obvious) of about $8/yr (3% annual increase) + $3.50 for CAM (lease through 8/19, but extending through 8/22 before any sale). 

I spent part of my childhood there, and I have pretty much my full extended family there. 

I allowed two extended family members to participate and invest some capital in exchange for a minority share of the property. 

At the end of the day I chose a market where I had extended family, low property tax rates, low “dirt” value, but also chose commerical multi family so I could “force” apprecation.  

@Jonathan Orr how does your product differ from current extended stay hotel offerings? 

The property, ideally is worth far more than what you paid, and if you've been extending your equity into other property, you're going to retire a rich person.

I have been listened to every BP podcast multiple times and nearly a bible's worth of notes I have taken, but have finally made the move to start purchasing more properties by extending offers and building relationships with local lenders. 

Maybe there is an extended warranty or replacement plan that will help to offset these costs in the future?  

My thought is I could re-invest some equity I have and make some income from without taking on the risk of buying to flip and be over extended.

He said that I am responsible for interior piping that will extend from the current meter location to the other side of the house.