This was before Dodd-Frank and SAFE Act implementations on all states. 

I spent nothing extra and it takes no time to implement.

I am looking to implement a buy and hold strategy for 2-4 unit multifamily properties since I am looking for an ideal balance between positive cash flow and appreciation potential.

@Chandler Smith - First congrats on taking advice and implementing it.

I GC for a select few large out of state investors and they are creating their own comps ( both rental rates and flips) with the formula that they have implemented and upgraded Hvac is part of that. $2400 isn't a horrible terrible price but I think you can do a little bit better especially if you're replacing the furnace.. it's not like he has to pull a second permit for AC when he's in there doing the Furnace anyway.

I will be taking y'alls advise and implementing it into my plan, again, thank you!

So a few years ago I implemented a fail safe system that guarantees my time is never wasted.I shoot a detailed video of each of my homes inside and out.  

I was originally opposed to the use of a hard money lender because rates can be so high, but seeing examples of ways to implement it makes sense and I wish I payed more attention when reading/hearing about them.

The way he implements the lease option is more closely related to the flip than buy and hold.

Lenders that sell their loans today are also taking part in what they call CMBS 2.0 (post 2007 underwriting criteria, where it is very common to see certain terms and conditions implemented for the additional security of the bondholders, and the increased risk of the Borrower (you)).The one thing that I see over and over – even with some of the biggest players in the market, is this: Investors spend a lot of time and attention on the due diligence of the property, economics affecting property performance, property management, repositioning, and on closing the loan - - and NOT AS MUCH ATTENTION IS USED TO PREPARE FOR THIS ENTRY INTO THE FINANCIAL MARKETS, (WHERE THEY WILL BE RESIDING FOR UP TO TEN YEARS) AND HOW IT CAN ADVERSELY AFFECT THEIR RETURNS.