I would also suggest you explore the various REIA groups in the area: I recommend NewEnglandREIA.com and I also have my own free networking group, Black Diamond, url in my signature below.

Thanks.Internet Explorer 10, nothing fancy.

I am not saying I disagree with you entirely. ( I actually have included the 8-10k into my renovation costs) But I do want to fully explore the option of leaving it "as-is".The only thing I can think is that when i want to sell it in the future it will be very difficult to sell it without it being metered out correctly.

@John Connor the headline should have read tampa bay area, the lot is in seminole, FLon another note I have not heard anything back from the seller in 2 weeks since the initial offer so he may not be motivated to sell, but we shall see.I did not plan on taking on a project like this but I saw an opportunity and chose to explore it further and the numbers work but I am feeling discouraged due to the lack of response.thanks

Be prudent, but don't panic, get with a real estate attorney and explore resolutions that are in line with the outcome in the best interests of your IL's.Good Luck.

Both my wife and I work full time in Los Angeles and are unable to devote time to any other avenue of REI (although down the road I expect we will be more interested in exploring those different avenues).

We'll primarily continue to focus on A markets but will likely also begin to explore multi-unit investing in the Midwest and South. 

I only have one experience in flipping a house, but besides that, I have no other experience in real estate or rental properties.I currently have two businesses that I am running full time and find myself with a large influx of capital and exploring options on different types of investments.

I'm exploring leasing options but not entirely thrilled with it.  

Fear = Face Everything And Rise or Face it Explore it Accept it Respond.