My biggest thing is that I like my investments to be tangible, which is why I dumped the 401k in favor of rental property.

So my concern is that as nice as they are trying to be, this really isn't to my favor.

I would tell them , " I wish you would have let me know right away , My plumber could have taken care of it , he owes me a favor" I wouldnt pay them , like you said a slippery slope , Air Conditioning season is right around the corner .

Units in the same building have sold this year and the end of 2013 at 117,000 - 118,000.I was wondering from you all what are some terms of the agreement that are going to be most favorable to me in the form of financing and long term planning... purchase option after 2- years versus 3 years?

A judge isn't very likely to rule in favor of a tenant because you made them pay rent in a different manner than they were in the past.

I hope to be able to return the favor in the future as I gain more experience.

http://www.biggerpockets.com/renewsblog/2014/02/18/reduce-risk-investing-in-syndicates-and-funds/It seems turnkey benefits over syndication are:Direct ownership of titleEasy to find as these things are marketed to a high degreeLock in low rates with Fannie financingEasy to understand asset - housesHowever, syndicates benefits over turnkey are:Alignment with sponsor through promote (if structured correctly)Much easier to diversify across product types and geographyNo real management responsibilities (i.e. much more passive) vs. turnkey Ability with the crowdfunding sites to invest in smaller increments ($10k)A turnkey is likely to be in the hole from the beginning (it is at retail and you are going to have selling costs of 8-10% so you need 8-10% appreciation just to get your money out even though you can sell whenever you want vs. a syndicate).No liability vs. a direct owned asset like a turnkey property.I personally favor syndicates much more (although it can be tough to find appropriate vehicles), but do people just like owning something that much or are houses just that attractive to people, because they are easier to understand?

For a rental: Do yourself a favor and actually go physically look at comparable rentals.

LOL, I see I'm out of here when Joe is favored for advice.

My recommendation for you is to argue your price down further based on the home inspection report - use it in your favor!