Yes, but those times also brought out real eatate agents who were now modification gurus, attorneys getting people to file bk’s, and scam artists telling people what They Wantes To Hear, Taking Their Money And Then disapeared!

Hopefully the city has the permits and they match the modifications.

Florida is notorious for foreclosure scams and modification scams.I was wondering, however, if any one has had any experience with approaching a distressed homeowner with the following proposal: If they don't want to do a shortsale, and they have little to no equity in the property, I would be willing to take over the deed and the mortgage.

Are there any modifications to the written lease?

I purchased the home in 2008, I have since gone through several successful loan modifications.

The agreement can be whatever you want, just like an online advice :) However, for taxation purposes, this idea of @Carl Fischer will not work without modification.

not necessary to do anything. you can if you want and can handle it with a note modification agreement that you can produce yourself ..

This behavior modification is the result of the virtual guarantee that if they do not pay the rent, they will be out on the street in less than 28 days.

Some things they consider acceptable....moving in grown children and their live in partners, pets without landlord permission,  modifications to unit without permission, bringing in curbside cast off furniture containing bed bugs etc.........Finding regular tenants that pay on time will be far less work and stress than S8.Additionally inspections can be a major pain.

Also what you are proposing is not a "full reno" but more like a basement finish with some modifications.