Master Lease for Apartment Complex

[stephen1]

Can someone explain the technique of using a master lease with option on an apartment complex and how it can work? Does it work best with troubled properties (Motivated Sellers)? Where can we get help negotiating a deal(s)?   

Here are some Challenges we have or would like in our master lease
What if someone dies or is incapacitated
What if the seller develops a tax or IRS lien
What if the buyer runs the complex into the dirt
Is it binding on heirs
Can the property be sold
Can the lease be sold or assigned
Eminent domain
Divorced
How do you bump up the lease - or do you ever
How do you bump up/down the sales price - or do you ever
Capital improvements - who pays for major issues
Changes in local laws or zoning changes
Foreclosure
What about a performance Deed for a lease/option- which is another complex legal matter into itself...
Etc...
 

[herbster]

To many issues here for me. I could answer a few but I highly suggest you hire an Attorney. Herbster

[stephen1]

Thank you, we will look into that; in the mean time, what could you tell me that we should really be aware of regarding a master lease.

[herbster]

Are you buying or selling?

[stephen1]

Buying a 92 unit property.