I have also utilized owner financing for longer periods of time, including personal residence and 2 barrier island houses on the coast of Florida.  

Include a lender in your conversations that specializes in working with investors.  

The definition of “livable” or “finished” space can be surprisingly specific.In many markets, including here in Arizona, appraisers and agents generally want the space to be finished in a manner consistant with the rest of the home and serviced by a more permanent heating and cooling source.

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

The main issue is a consistent lack of effective management and oversight.

Politely and clearly, make it extra clear that all information will be verified including income prior to the signing of any lease.  

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Clearly define terms, including an exit strategy, buyout options, and how proceeds will be split.

Include text so that states what will happen if the new lease isn't signed by landlord and husband such as the return of keys by all parties date.

To determine price range, the first step is always figuring our how much you are pre-approved for; and that can vary significantly when you are looking at multi-unit properties because of the additional variable of rental income that can be included in qualifying.