Another possible tack is that the association sues you for an injunction (that would require you to fix the roof); or, they may (depending on the governing documents) replace the roof for you and levy a special assessment on your property to cover the cost.

It is a tough rehab project.

Doesn't usually appear that tough - but I know contractors vary quite a bit so get several bids if you are hiring it out. and 4% money!

Though I concur with many of the statements here, "student housing" has been a very tough class for investors to insure for a very long time.

The public image really is one of charity (training and employment for special needs groups).

FYI - Seterus is a Special Servicing company.

While on the surface that is his problem, if things get tough or expenses go high he may have little incentive to finish the deal.

You obligate yourself to assessments that you may not know the amount of, that can change (according to the rules governing the assessments) without your "acceptance", you obligate yourself to special assessments that may be levied from time to time, etc....

Seeing fellow advisors receive brass plaques and special award dinners for cheating clients did.

If you are a surviving spouse of a farmer, you may also be treated as materially participating in the farm, if the real property used for farming meets the estate tax rules for special valuation of farm property passed from a qualifying decedent and the surviving spouse actively manages the farm.