You should be inspecting the property at least once a year to ensure they're taking care of it and you want to keep them around.

Just be careful as it amplifies your gains AND your losses

Be careful what you write but it could be the difference if your offer is close to the next best.

If I was planning on building new why would I care if the old foundation is terrible it's going to end up in a landfill.

Need to be careful not to blow the corporate veil if it’s in an llc. 

I think you will need to speak with an attorney to see how much they will charge to take care of this and then figure out how much it will actually reduce your taxes by.

IRS rules prohibited any direct or indirect benefit for such person from his/her retirement account, and as such you are not allowed to furnish any service, goods or facilities to your 401k:https://www.irs.gov/retirement-plans/plan-particip...While in some instances it might be possible to get into an investment together with a disqualified person you must be very careful!

If you treat people with respect and show you actually care about them, and their well being, they will reflect that back to you.   

There are plenty of ways to get into a bad situation if you are not careful though.The only problem is that now you have to find the note holder.

The truth is that from where you are today, investing 'out of state for better deals' concept is totally misguided and scares me!