The private investors he mentioned will lose their invested capital, but chances are pretty good most of them already received more cash than they put in.If this goes on the block, will you have your own syndication lined up to take it over and turn it into a performing property with more conscientious management?

Between the bad, poorly structured English grammar and the typos in the "term sheet" and the ridiculously unrealistic offer, there is 0% chance that this isnt a scam or fraud.

In NYC, stay compliant by marketing your equitable interest, not the property, and use an attorney-reviewed assignment/option.

Does anyone by chance have links to public auctions that include accrued interest in the starting amount?

So, it's intermittent and there's no question that I've tried to resolve it--I brought both that HVAC technician to check furnace and somebody from the gas company to check for leaks--but I'm wondering whether given Chicago's more tenant-friendly rules people think there's any chance that the tenant could withhold rent or file a complaint if takes some time for me to fix this.Thanks.

And the chance a 1 year old will be doing REI when they are 20 years old getting $250,000 a year is probably zero.  

Regarding structuring the deal, you would likely want to discuss the partnership with a real estate attorney to put it in writing whichever way is fair/equitable to you both.

Also ask tenants if there are any recurring issues.Typically when completing the due diligence, you'll have a chance to see the current Sch E, which will list utilities if the owner is paying anything. 

Have you had a chance to drop into any of the local real estate meetups?

Also, I have read that newer or recently rehabbed properties will have less chance of needing unexpected repairs and maintenance, so I am more interested in the BRRRR method as it would keep the Capex and Repair expenses more predictable.