The agent states the coop building allows for the units to be rented right away.Currently 60KI plan on offering 47KHoping to land in the 50sCap rate 10%ROI 23%I see a lot of people out there aren't too fond of coop investing.

The agent states the coop building allows for the units to be rented right away.Currently 60K I plan on offering 47K Hoping to land in the 50sCap rate 10% ROI 23%I see a lot of people out there aren't too fond of coop investing.

The fondly remembered (by some) Bob Bowling put it this way, once upon a time:"But remember the REASON cap rates decrease is because the real estate is more attractive.

I'm impressed with what I've seen on BP so far.Brent, I have fond memories of my time at ORU and Tulsa.  

In addition, banks and future buyers are not fond of them.  

And it too was a cash cow, it brought in over 30k monthly, i remember fondly driving my sports car around town with 30k of one dollar bills in the trunk to the bank.

Present it as a win-win and you'll have a better chance.Another point, and I hope this isn't too callous, is that since you don't seem to have an emotional attachment to your grandfather's house (you're not writing about fond memories of him or how he wanted to keep it in the family but, rather your post reads to me like this is a great target of opportunity), perhaps let it go and find another property where the seller is more motivated to sell. 

We own property in Deforest, Madison, Janesville, Beloit, Fond Du Lac and a few other places.

In this particular MA case, the previous owner still living in the foreclosed home was successful in avoided subsequent eviction by the courts based on some technicality of the foreclosure and as a result, MA title insurance underwriting has changed.Understand, the Massachusetts Land Courts are some of the most tenant friendly in the country, and the judges are fond of setting case law precedent when they don't like an existing law as it actually exists.  

As far as looking for houses I would hit some local real estate investment clubs or join the local Meetup group(Meetup app) and see who is wholesaling properties so you fond the best deal.