I would challenge you to negotiate to get a better deal and not overpay for the cashflow. 

Yea, it seemed like a no-brainer to me, but of course, throughout the course of this much more ambitious addition, a small amount of self doubt has crept in as challenges have arisen and cash continues to dwindle at an alarming rate. 

Presumably the tenant can be required to carry renter's insurance on top of this, to cover malicious damages or their kid trying the outlet challenge and burning down the building... 

Challenges?

Challenges?

Thank you for reminding of possible challenges in owning  B/C class MF properties in tier three markets.

- For us, the most challenging thing about multifamilies in Chicago is not necessarily the number of repairs.

Challenges?

Challenges?

Depending on how your borrower responds could go longer if they file bankruptcy or challenged the debt in court. have you made any contact with the borrower to see if he or she is willing to execute a deed in lieu?