If you are purchasing this property for under market value as you have indicated, that could be a great option for you.We would lend to you at 75% of the value of the property and up to 90% of the purchase price. 

This deal is complicated as the OP has indicated that they have completed $60K in repairs@Elizabeth PharisHave you spoken with the heirs as they obvious provide the simplest solution provided the estate has no other debtors ?

I have one very long term tenant that I do a yearly extension for though - and it is a simple one page document indicating start and end dates, the new rental rate, and that all other terms of the original lease remain the same.

I have read a lot lately that indicates malls faring better are ones which:have an Apple storeare connected to a cinemaintegrate high-tech elements (such as interactive maps, strong fast free WiFi, mobile charging stations, gaming/sports screens, etc.)embrace pop-up shops in vacant spacesprovide experiential shopping perks such as a DJ booth, giveaways, etc.I think that with millennials now being the largest U.S. demographic (recently surpassing baby boomers) and their inclination to spend money on food, travel and experiences rather than retail commerce, it will be very important for malls to continue to diversify their offerings beyond just "typical" shops.  

We were also told the area sales may not support the price we paid (imagine)  So I urge you please be careful...The proforma they give you and the first year is not indicative of future results.  

You could look for other indicators, I was listening to a BP podcast the other day, I'm sorry I don't remember the number and the guest was talking about his best performing mailing lists and he liked owner-occupied high equity owners, he also suggested going onto craigslist and looking at the yard and moving sales listed in your area, get the address and find out if they are owner occupied.

Ask your realtor, you can add an addendum to indicate when you're moving out after Coe, or just have a leaseback where both parties agree to the terms.

I know a prior response in this thread indicated that the next RIREIG meeting is the 3rd Thursday in July.  

I would offer to buy the owners right of redemption period, with a formal agreement indicating they will be vacating the house in 30 days. 

I called the city, and they indicated that they didn't have any documentation showing that it is in a flood zone.