I'm talking to a seller of a 56-unit apartment building who wants $4M+ for it and it's not worth that because it's only 60% occupied and not run very well. If we can get it occupied and performing well, then it would be worth the $4M price tag. The seller owns free and clear and could be open to a Master Lease option. I've only heard this talked about before but I don't have any experience in it. What are the typical terms for a Master Lease Option?
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