This can usually be done if allowed under state law, which it will be, but some states may require that an assignment must be stated in the contract.

By then a small problem can become a big problem to deal with.A to B type properties at this point in the multifamily cycle which in my opinion is way overheated as sellers are understating expenses, saying 3% vacancy, and that above normal rent growth rates will stay that way forever.

I have attended... to understate...

Just yesterday I saw a posted pitch for a JV partner that showed:2% repairs,0% management 0% cap-exCurrent best case scenario interest rate (no buffer)Including income from illegal unitsCurrent taxes (no buffer)Under stating insurance (again, buffer)Less than half AVERAGE vacancy (especially if new to this)4% appreciation in a market that has been DEpreciating for the last decadeThese are not useful numbers to anyone but a pencil manufacturer.

Very few sellers will overstate their income or understate their expenses to the IRS, however almost universally the listing will not take into account vacancy rates, insurance expenses, upkeep, etc.

Cleanliness is something not to be understated and you should have all safety equipment (smoke/carbon monoxide alarms, security system) in working order.Tagging onto cleanliness, having a clean front and back yards that are pest free is something you should work on as well.Keep an eye for leaky faucets, broken outlet wall plates, squeaky floors or hinges, running toilets or other little things that can be easily fixed, but may catch the eye of the appraiser in a negative way.As you already mentioned, the before pictures, scope of work, and comps help a great deal and are some of the main things to include.

For both judicial and nonjudicial sales, the Service may redeem the real property within 120 days of the date of sale or the redemption period under state law, whichever is longer. 28 USC § 2410(c) (redemption after judicial sales) and IRC § 7425(d)(1) (redemption after nonjudicial sales).

In regards to rent control this is illegal under STATE LAW which supercedes any local laws.

Seem like they would be protected by the management company llc, versus the owner operating as a sole proprietor.But as a sole proprietor I believe, correct me if I'm wrong but I believe he or she would have full exposure of all personal assets to the lawsuit less What is protected under state law from seizure (Texas has pretty good protection laws for residents).

However, if you pay retail, don't understand cash flow, and don't understant how to deal with tenants, you may need tens of thousands of dollars to cover your losses (this can happen with rehabs and flips also).