I would assume if that was possible the new owners would sue the former owners for negligence and damages.

Should Tenant/Buyer default on any payment required by this contract all of the Tenant/Buyer's rights to occupancy, possession and equitable title shall revert to Seller and all monies paid to Seller shall be retained by Seller as sole liquidated damages.4)OPTION TO PURCHASE:The Tenant/Buyer, as part of the consideration herein, is hereby granted the exclusive right, option and privilege of purchasing the above property at any time during the term of this Lease/Option agreement or any extension thereof.

Consider wholesaling these deals you are finding to other investors to build capital and then they might return the favor and partner with you, or if you build a good enough reputation in your local investor market you might find people to loan you money.

Or damages it?

There was a roof leak that created water damage on the floor and ceiling (small areas).

I'm preparing for that meet up; from what I understand right now I would be investing $150K at that awful low rate of 6-7%, he is a reputable builder of spec homes and 3/2's in my area go for 180K-220K so I would imagine I would be funding the whole build for a home or close to it.

The more people there are the more traffic through the apartment the more damage to walls floor etc....I love leasing to people who have small familes i.e. mom dad one kid elderly couples etc....just some food for thought.

Can you recommend a reputable company that services the NYC area?

I also have a tenant abuse clause in my leases that holds the tenant liable for the full cost of repairs or damage due to tenant abuse.  

They often do more damage than expected, and will not know until those walls are opened up.