Purchase price: $260,000 Cash invested: $5,000 This was a short term lease option agreement to help the original owner get back on track with monthly payments and upgrades.

*I understand terms such as deposit amount, contingencies and settlement period can play into the decision making of the Seller, but a syndicator who is relying on outside equity is likely performing full diligence and is not shortening their contract period materially from others in pursuit of the deal.

In one instance, the seller had very specific terms.

Is it as simple as move-ins and move-outs?

I wouldn't see an issue with this one, as long as there is a clean title should be a pretty simple process.

This is a mid term rental and I receive substantially more than surrounding comps for monthly rent. 

Save learn and go on your own, YES that simple, easy NO, but simple.

What are the new costs, terms, conditions, years?

The 10-Unit complex would be a commercial business, so the simple answer is to purchase and operate in an LLC.

Are you open to doing a few fix and flips first to build up your cash - THEN put it towards something long term?