The seller is out of state and even visited the project a few times to check on the progress which I think helped him feel good about the whole deal as well. technology made the whole process a lot easier in the interim.

It may be a tough pill to swallow if you feel you’re totally right, but you may be surprised at the LEGAL opinion rendered by counsel.  

Feel free to shoot me a message if you think that I could be a resource.

Hope all of that makes sense but feel free to post with anything else. 

You may not be able to break the contract this year but would recommend getting additional estimates going forward if you feel it is expensive.

It normally takes 5+ years of rent increases before you feel like you are doing ok. 

Your ability to close means almost everything and you'll need to make them feel confident in your ability to do so if you target bigger deals right out of the gate.2. 

This could be coupled with the a dramatic drop in the S&P 500 which would feel pretty awful.

We’d like to continue with this project remotely, but the idea of managing contractors and overseeing a renovation from afar feels a bit daunting.Have any of you undertaken a similar project?

I don't get a great taste or feeling about the MHP sponsors mentioned based on this.