Okay maybe I didn't frame the question properly.

Where would I go to research the original plans on the property, or check to see if whatever work or additions were done with the proper permits so I don't purchase a potential legal disaster?

In other words, if you have 10 properties under the one "blanket loan", can you sell of one or two of the properties and still maintain the loan with the balance assets in them.

For the balance 10%, making you 100% leveraged, you can use any of the above options you and Jon mentioned.Sellers are often willing to carry back a second note, you just have to find sellers who are motivated enough or are in a situation that makes sense to do so.

The loan was orginally made for $434K back in 2003 (I don't know what the balance is today).

That is absolutely correct, which is why it is imperative to not only have proper contracts and disclosures, but to make proper financial choices to use this strategy only when the numbers work.

The property management left it to the tenant to handle everything, and refused to notify the property owner.Unless handled properly, water can continue to cause damage for weeks that can lead to very costly remodeling and remediation repairs.

I'm not commenting on Florida law, but in general you can enter the property after giving proper notice.

Now if you put only 25% down and leveraged the balance, your COC would be closer to 20% or more.

Please into yourself in the proper thread and tell us about yourself and your background/RE experience so we know where you are coming from.