There are formalities that MUST be followed to ensure the corporate veil is not pierced in the event of a judgment against you.

Find a reasonable deal, have the cash to buy it, manage it well and you are printing money.In the beginning stages you are going to make the most mistakes so try to ensure they are small. 

Also ensure you are both aware of what is needed to accomplish the needed timeline.

To double check though, head over to the Daley Center and you can view the court docs to find out what was going on with demo court and ensure the case is closed.The typical flow is 311 Complaint -> Conservation Inspection / Violations -> Administrative Hearing -> Building Court.

I hope this review helps someone, it has helped me to ensure that I dug deep into the book and really learned what was being taught so that I can review it.

How much room do you like to have, and is this just to ensure you can comfortably pay the mortgage?

Tell him you want to make things right and ensure he is getting paid what's rightfully his (maybe he did repair all the carpentry around the building right before the seller put the property for sell).

Know now to not be afraid to renegotiate with seller to better ensure less maintenance in future.

Here are some details: - 12 units - ten 1-bedrooms, two 2-bedrooms - Covered parking garage- Asphalt driveway Capital improvements made recently:- Window replacement (summer of 2014)- New roof on main building & Car Port (summer 2018) - Replacement of entire driveway and uncovered parking- Gutters Replaced with Commercial Gutters - New concrete in courtyards between car ports and building - installed cameras with 10-day DVR loop Post LOI, we plan to do a full inspection to check on HVAC systems, but we want to still put in an informed offer and ensure the property is still worthwhile with a budget for CapEx built into our projections. 

You should have several days to ensure all is well and to prep for the next tenant.