You can make a new lease with that tenant proposing a rent raise anywhere from $300-500 but you have to be able to justify it (maybe the property doesn't have central AC, maybe you're planning to do some other type of updating but that can be hard when they're physically living there still if its a bathroom or kitchen) and I would also make it so that that rent increase would go up after 60 days of them signing and agreeing to that new lease. 

I agree with other responses here, and to piggyback on them it seems everyone plans to 'own forever' when they sign a 30 year lease or finance term, and then things change (job, relationship, life events, etc) and folks try to sell the property with 25-28 years left.Banks do not look at power bills when determining DTI, but they will look at a solar loan/lease. 

At the time, all work was done with permits and signed off by the city. 

Need to get it through to him and get him to sign.

Both signed the lease, so I think I split it in half and give it to both and let them go fight it out.   

Since the owner is willing to take the risk on you and that is a great sign, see if he will do 100% of the financing. 

For LP the question still remains: you want to lose 200k now or lose 500k later, all for to just generate 200 bucks cash flow.I'm an adult, and am responsible for my decisions, including the contract I sign as an LP with the GP.

When we get leads I send my cash buyer to the property and tell him "do what you want, I want a $50K assignment fee), they make the offer, sign the contract close, and they pay me my fee!

I signed a year lease with the tenant already and the management suggested that i extend the lease to a two year.

I decided to take the leap and sign up for the program.