But if the lease terms are murky, if renewal conditions aren’t guarenteed, or if the airport authority could dramatically shift the deal down the line, then you should be asking for a discount..or at least some protective clauses in the contract.I’m curious... if you were to step into this kind of leasehold now, how do you think you’d explain the upside to your future buyers or partners when you eventually decide to exit?

Sounds like you have thought out a lot of this, but maybe also hold a competition with a cash prize at your closest architectural and design school.Can you build it cheaper than someone like this?  

The 1% rule does not consider the condition of the property and is very limited. 

I couldn’t tell you what rates are today but I assume they are competitive.

Quote from @David Martoyan: You will always have a high amount of competition for real estate and real estate investors.

- Could have it for sale while its occupied, as its likely an investor buying it, and that would just be a condition of purchase.

Especially in eastern PA where competition and inventory can be tough.If you have 80K, spending 60-65 max should be your limit.

The Pacific Northwest is competitive, so leveraging those connections can be a game-changer.Second, when analyzing deals, ensure you’re building a framework to assess not just the property’s performance today but its future potential.

Down around those areas you'll be swimming in a sea of cabin competition, so a Scandinavian style or something otherwise standout might be the only path to making more. 

That's also what the lender told me, it would take too long and thus make me as a buyer less competitive once we're in UW.