@Terry Lao if bad management continues, it will keep hindering potential buyers’ options for financing, therefore, keeping the market value of those units down as they aren’t “marketable” Only options for a potential buyer are private mortgage and/or pay higher rate.I had this scenario myself where I owned individual condos in buildings governed by associations.

I’m pretty sure something else is coming up after the heater’s fixed and it’ll be non stopping, also it’s getting warmer in north cal.Is it a really bad idea to carry out UD process when there’s outstanding repairs going on?

That isn’t a bad result either.

It can be very easy to make a bad deal look good if you forget some of these costs so plan accordingly.

Jobs aren't bad, the wrong job is the problem. also having no job will crush your ability to use leverage. take your time, find a place that you can use your talents, grow, and be inspired. you can jump head first into real estate, but I would suggest that you implement a goal, plan on how to get there, then implement.

Definitely consult with your CPA about this as you may have specific situations that didn't come up in your post.Generally, there is an advantage to running businesses like property management or wholesaling through an LLC taxed as an S-Corp, as it can save you social security taxes (your CPA can run the numbers for you along with a more comprehensive tax plan).However, it's usually a bad idea to hold rental property in an S-Corp, so you probably wouldn't want these two revenue streams (rental and wholesaling) running through the same entity.Let me know if you have any questions!

@Josh Little, an installment sale like @Senthil Akasham suggests is not a bad idea depending on the history of the property. 

(Happy ending - he saved up more money, went back to my friend and bought a rental the next year)Further referrals from this friend haven't been nearly so bad. 

Just checking if anyone has any experiences with them whether good or bad or any other device that they can give me regarding this information.Any help will be greatly appreciated!

Not a bad idea to gain an additional income from the same land!