I would get an appriasal anyway cause they will have land value and replacement costs on the report.One you have a basis for the value of the dirt, estimate demolition, waste disposal, permits, etc.

Its beenon the market a while and I am worried maybe something serious is wrong with the house like an addition that isn't in code/permitted or something along those lines.

Rather than inflate the value of the house, they deflate it so the lender will permit the borrower to sell the place for far less than what it's worth.

I remember during college times I rented a place where I just had to bring my fridge, stove and cabinets were already there.But there is also one big difference (besides the beer): If I want to change a broken 40 cent receptacle here in Milwaukee, I technically have to buy it (40 cents), get a permit from the city (min. $43 or something). and hire a licensed electrician (min. 1 hour charge for 5 min. work, $70).So that costs me now $113.40 already!

Good luck, Bill would you get the permits dept. involved in this, or just do it quietly?

This is that Indymac file so I doubt even if it was a cash buyer they would permit an assignment.

They are living in clean surroundings, getting religion appropriate food, allowed to practice their religion freely, supervised so that no fighting or co-prisoner cruelty is permitted.

That also depends on the systems getting "fed" with any changes (people don't always get permits, and even when there is a permit somebody still has to get the details right).

If one tenant is allowed then you make very difficult to enforce that element of your lease with anyone else.Sounds like you may want to change your lease in the future or add an addendum to your lease to clearly list any dogs that are not permitted.

So, I would want to tie it up at this point and get in to do some serious due diligence.I sure would want to look at some financial statements for the last couple of years, I would want to check out the leases, I would want to investigate the rental market, I would want to inspect every unit, I would to call on the fire department, check any police incidents, check with the building department for violations, permits, etc.Overall this looks like a good possibility on the surface.