Every individual property is in a seperate LLC and as broke as possible, this limits the liability should something go wrong (lawsuit) at any one property.Your CPA talks more like a lawyer.

You're right, no matter what the market conditions there is always opportunity.

list of thing to do when evaluating the physical condition of a property and you have little to no rehab experience.....call an inspector

A couple of reasons.Commercial tenants tend to be big fish with big lawyers.

You don't even have a letter from the deadbeat's lawyer yet.

If you don't get your deposit or a detailed accounting, you should get a tenant advocate or a lawyer, and file against the owner.

That's over simplified, but you get the idea.So, if you're willing to sign up for something like one of those, you could figure out a value, figure out the value of the annuity payments, then set it up legally with a lawyer.

Get a lawyer to help you with this.

The point I am trying to make is that you cannot rehab a 25K home as a rental and expect to flip it in the same condition, by time you get ready to sell it, you are going to have go back in and reinvest more money in it in order to make it marketable.

There is always opportunity in real estate, depending on the market conditions in the area, there is always a strategy that can be applied to be profitable.