No equity whatsoever.And isn't Congress or someone trying to pass a law that the IRS cannot come after you for the deficiency's?

Two or three board members and the management co feel threatened, to the point of wanting law enforcement security at the next several meetings.

He must have broke another law somewhere along the line, because buying subject to is legal.

You really need to check your local landlord-tenant laws.

Ohio's tenant-landlord law makes the landlord responsible for maintaining the property in a habitable condition.

He is very ethical and deals fairly with people and is careful to abide by the law (CA.).Paul Galasso seems to be a pretty up standing guy as well and he's in WA. state.Don't sell your soul to any Guru.

I understand the smoke detector thing... many insurance companies have specific requirements and inspections for safety and liability reasons etc.

Laws are different via not only state but also county.

Absolutely right, Mike,But I don't think it will ever be set to law.

YOU need to obtain and pay for proper insurance; YOU need to pay and/or appeal your Real Estate taxes; YOU are ultimately responsible for law and code violations; YOU need to provide oversight to ensure the property does not deteriorate; If you want a "hand's off" Real Estate investment, then look at REIT's!