I work in Property Management for HOA's, and a situation arose a few months ago that I found quite interesting.An elderly owner of a unit within one of the HOA's we manage, was taken away by authorities because he was not deemed fit to take care of himself (severe dementia).

I'm not set on what strategy fits me yet but MFs and small apts are interesting to me, buy and hold.

I can see if you walk in and say I want to do sandwich lease-options, many will not want to get involved with you.If you can demonstrate knowledge, they will be more likely to work with you, if they see you don't have a clue, you may not be worth thier time teach you the legal issues and why.

One of the problems with older radiant floor systems are the fittings.

None of their maintenance issues would have held up in court, except for the issue of some of the windows not locking, which absolutely should have been caught by the PM....who charged us to do a walk-through to make sure everything was up to code when we first hired them.

That was this wks lesson (been in it 12 yrs)I haven't decided if will consider this deal, or walk away....I have enough headache in multiple commercial owners situation (shopping center).

I'll offer this partial answer as my guess: Option payments only become ordinary income in the year that the tenant buyer walks on their option to buy, buy moving out, giving notice and you 2 don't have some change in heart and return some of their option.

Many GCs I know would be happy to do a walk-through and put together a basic estimate for $50-75.You should also get to the point where you can do basic estimating yourself, to save yourself the time and expense.

If you can't get rid of the tax lien, you might walk away, unless the rents can cover the cost to carry it.

There are PLENTY of towns that fit that criteria.