The more I learn about RE the more leveraging your money seems to come into play and trying to minimize your initial investment and even pull money out to do more deals makes sense.At my RE meetups it seems like creative financing is really how all the pros do deals.

Odd things come into play like fire truck access for emergencies, cable and electrical right of ways, drainage and wetlands. 

Larger apartments are more of a fee play vs cashflow but offer greater appreciation through value add on the exit. 

This would solve your lack of immediate funds to float this deal AND will offer you a much more valuable property with a NNN single tenant lease in play. 

Do they always run a title search or do they just play the odds?

It seems that there are some silent cap rate factors at play here that people are forgetting .

The advantage is you are all on a level playing field.

Obviously building conditions comes into play but you need to look at the operating expenses & the current rents coming in.

This is where a trusted team comes into play  Plenty of better investments in Milwaukee to be had if you look.

Family has stated they would not mind renovations and would prefer for it to stay in the family although I am slightly nervous on how this would actually play out as my grandparents built this house in the 60's and we have tons of great memories there.