PROPOSED AND DESIGNATED EEL SITES UNTIL ACQUIRED, OR PROTECTED UNDER ANY OTHER CONSERVATION OR ENVIRONMENTAL MECHANISM.

Hi Peter,Yes I totally get the mechanism but if I have 90K and getting 80K from the bank at 5% I can buy something for 170K, monthly mortgage is $420, taxes and home insurance around $350 total.

Usually the area where the mechanicals are housed and any storage areas are not finished.

I have found the 'land trust' to be a great mechanism to hold title, create anonymity (read privacy) and protect/separate all other assets not directly involved in any suit or lien against the subject property.Since the trustee is a fiduciary of the beneficiary(ies) you could have a close friend, relative, yourself or anyone you choose act as trustee. 

I've searched a bit and have not come across a post that quite fits an investment opportunity I have been looking into.At the bottom I put a cliffs notes version of the building/surrounding area (probably could have shortened it up, and maybe I'm looking at too many external factors - however let me know)My thoughts - building would be good structurally/mechanically - located in the downtown core - building is already built out into 4 offices and reception area main floor with a kitchenette/half bath2nd floor has 7 offices, 2 baths, 2 storage rooms2 entrances into the building, street parking on 2 sides, building is located across from the local courthouse(Could potentially turn the upper floor into a couple of apartments or one large apartment - rent for 800-1k a mo for one large apt, however rehab $$ would climb - city would be more than willing to change zoning for this and encourages this type of arrangement in the historic buildings - ie office bottom floor, apt top floor)$60k Purchase Price$20k Rehab budgetPotential gross income $2800 per mo (7 offices $400 ea)Guesstimated Pro Forma--  $33600        Gross Income - 7 offices $400 ea       (5040)        15% Vacancy       (2400)        Property Tax       (2500)        Insurance       (6000)        Utilities - figured $500 per mo/gas/elec/water- think this is high though       (1680)        Cap Ex       (4980)        P&I Pmts $60k loan 5.5% interest - 20 year amortization       (4800)        Janitorial - $400/mo - this would probably be lower----------------------------------------------------------------------------------$      6200        Cash FlowI think I could improve on the above cash flow, not sure the Insurance is 100% accurate, could possibly increase gross income if I have more than 7 offices etc.  

Most home warranties have too many loop holes and I am plenty comfortable on working on any mechanical system, well except for hvac.Thanks in advance

Recent graduate from Oregon State University with a degree in mechanical engineering.

I'm not worried about having to pay the lien, just the mechanics of it.

Certainly get that I'll have to replace any mechanical equipment submerged.

Deals are found through whatever marketing mechanisms you chose to use, understanding the ARV and the MAO concept for whatever exit strategy you may have in mind.