The Section 8 /Hud programs are administered by the city, only funded by the Feds, so this isn't a HUD problem, it's with your city's administration.

I know what you're talking about then, You'll probably have many problems from missed rents, drugs, etc. to municipal issues.

Basic agency law.Next thing most investors don't have a clue about, is that state real estate commissions, cease and desist sit orders and fines are not necessarily a judicial matter to be found in court cases, regulatory agencies have administrative authority to deal with violations in administrative hearings, which may or may not be made as public information.  

Occupancy permits, tenants that couldn't qualify even for a checking accounts, late rents, paying people to leave, and drug users on the same block...it was a nightmare.

I also noticed last night that the two heirs may be administrators, as i don't see any verbage in court records of executor, and I see they pulled a sig bond for $70,000.

I graduated from the University of Missouri in May '12 with a bachelors in business administration-management and I could not agree more.

The administrators told me that just because a bond is approved for a certain amount doesn't mean we will spend all of it because we will have multiple bids.  

Budget for a realistic expense item here as well which will also reduce your cash flow.Also budget a small amount for administrative expenses.  

A larger commercial building I would place in its own holding company - particularly if it were being purchased with partners.Even though you may not be able to see the entity and keep financing in-place, if you owned the properties outright at the time of sale, selling the shares in the holding company could very well be easier - and may have tax benefits - to selling the properties individually.In general, I am for using holding companies where the potential benefits outweigh the extra administration and accounting effort and cost.

The probate court may issue Letters of Administration prior to the expiration of the required 4-month advertising period, but only if the Court is convinced that there are sufficient assets, such as cash, to pay any potential creditor claims.