If the landlord fails to give the required written notice, the tenant may remain in the dwelling unit for up to sixty (60) days after the date on which such required written notice is given to the tenant, regardless of the termination date specified in the existing rental agreement.

Sixty percent of the assessed value represents a fair mortgage, which is a fair way to approximate it.

Also, if you just take a cursory look at the listed properties there, the price/sq ft ranges from the low sixties to just over $100 for the majority of properties. 

Sixty dollars sounds like a very good deal.

Buyer agrees to use best efforts to pay off existing loans that are in sellers name within five years of close of escrow.)Protection for the sellerBuyer will execute a quitclaim deed back to the seller, which is held in escrow unrecordedHow to protect the buyer in the chain of title and potential future creditors of the seller.For the buyers protection a lien of some percentage (I like to see at least 20%) of the purchase price in favor of the buyer executed by the seller will be recorded a "Sellers Performance Deed of Trust" The buyer will appear to be a juniors lender for public record purposes.The seller is protectedFor the sellers protection a reconveyance of said deed shall be executed by the buyer, which would be recorded in the event of a default upon request of the seller, which remains uncured for sixty (60) days upon written notice of default, has been mailed to the buyerThis would allow the management company to unilaterally remove buyers cloud on the title by using the pre-signed reconveyance if the default was not cured as outlined.

I've bought over a hundred and sixty over the past 15 months and it's been a lot of fun.

Title to be conveyed to the Tenant/Buyer and/or assigns.(19)CLOSING:The deed shall be delivered and the purchase money shall be paid at the lending institutions, or other office, of the Tenant/Buyer's choice, no later than sixty (60) days after notification to the Landlord/Seller of the Tenant/Buyer's exercise of the option.(20)COSTS AND PRORATIONS:There shall be prorated between the Landlord/Seller and the Tenant/Buyer, as of date of closing, the following items: (a) All real estate taxes and assessments, (b) Interest on encumbrances assumed or taken over by Tenant/Buyer with the Tenant/Buyer having responsibility for such items as follows:Landlord/Seller will pay:Tenant/Buyer will pay:____________________________________________________________________________(21)INSURANCE: While this option shall remain in effect and up until the time of closing, the Landlord/Seller shall maintain fire and extended coverage upon the property, and in the event of loss or destruction in whole or in part of said property, the Tenant/Buyer shall have the option to proceed with the closing and accept the insurance proceeds for said damage, or to declare this Lease/Option null and void, releasing both parties from any obligations hereunder, except for the return of reimbursable expenses previously paid by Tenant/Buyer which amounts shall become immediately due and payable from the insurance proceeds.

In the sixties there was a need to further broaden the capital base available for mortgages so FNMA was partitioned into two entities to form Fannie Mae and Ginnie Mae.

Buyer agrees to use best efforts to pay off existing loans that are in sellers name within five years of close of escrow.)Protection for the sellerBuyer will execute a quitclaim deed back to the seller, which is held in escrow unrecordedHow to protect the buyer in the chain of title and potential future creditors of the seller.For the buyers protection a lien of some percentage (I like to see at least 20%) of the purchase price in favor of the buyer executed by the seller will be recorded a "Sellers Performance Deed of Trust" The buyer will appear to be a juniors lender for public record purposes.The seller is protectedFor the sellers protection a reconveyance of said deed shall be executed by the buyer, which would be recorded in the event of a default upon request of the seller, which remains uncured for sixty (60) days upon written notice of default, has been mailed to the buyerThis would allow the management company to unilaterally remove buyers cloud on the title by using the pre-signed reconveyance if the default was not cured as outlined.You might be interested 1.

I just wonder if Sixty Minutes happened to mention the fact that these areas of blight have voted almost without exception for the same party for decades?