@David Gotsill I wouldn't exactly call VA a fine state since there isn't anything really attractive about it; same goes for DC.

or do they think it will attract more money than the judgement .

The 183 development is bringing a lot of attraction.

I could leave a few days breathing room if I don't think the two can cooperate in giving me time to have it professionally deep cleaned either July 31 or Aug 1, that is something I will discuss w/ both before signing anything.

There can be some tax issues with being subject to UBTI but comparing the after-tax performance of a syndicated offering versus other IRA-appropriate investments can make the syndication investment just as attractive if not more attractive than the alternatives. 

There is no specific requirement to replace debt but that's one of the attractions to the syndicated products - their built in financing packages right?

I'd put it in any house - not because I think the quality would attract tenants or drive rent increases or anything like that, but because in my experience, good quality fixtures last a ton longer, and require much less maintenance than the cheap ones do.

It still looked very attractive overall and I thought the member returns would be attractive also for passive investors.  

Keep in mind that the highest net to HUD wins so try to make your net as attractive as possible keeping in mind that the numbers need to work.

If they succeed in attracting larger developments of affordable housing into the downtown area, the pressure for affordable units in the outer neighborhoods may ease up a bit.