Each unit is renting for about 600/month and apt is at 90% occupancy.The property is in good shape structurally but has low-income tenants that are causing problems. 

I will have to re-structure the terms to be Dodd-Frank compliant.  

My dad & I are considering entering a joint venture with a good friend of mine who is an experienced contractor. We would like to flip to earn capital for future buy and holds. My questions are: 1. Should we form...

The FHA qualified inspector will note certain things mentioned above like peeling paint, missing HVAC, broken windows, cracks in walls indicating possible structural, worn out roof etc.Yes...you can do an FHA 203K....I did that on my first house.  

It is possible to structure the reverse exchange by parking the relinquished property, but would have to crunch numbers to make sure that it would work.

I am not stuck on that 25 unit # but wonder how much more business structure i would need to manage 25-50 units whether they are SF, row homes or small multi unit apartment buildings.

I just default back to what I do were I can open escrow without a contract and with a phone call.. but that's because of the volume of bizz I do with title company .. and our title plants are digital.. so running a title search is not as big an issue like it is in many east coast states I work in.. were they have to actually hire a title abstractor to physically pull title.. ( old school :))

@Darren Budahn any ideas how he could structure this property under a Land contract or Trust for Deed ?

I was a total wreck of a person who is physically disabled but I am finding a way but using what skills I do have.

Many real estates specialists totally neglect to perceive the prevalent advantages that accompany owning area in its raw structure.