He has suggested an 8-unit building.10,000 sq/ft @ $215 sq/ft = around $2.15MEach unit will be worth around $268,750The current plot of land is currently zoned for a duplex without further approval from the city/community, but the zoning on the land can allow for up to 8 units by applying for a Special Use Permit through the city.

This allows you to control renovations and decide whether to self-manage on the back end.

The loan programs of your buyers will dictate how much of a credit you are allowed to apply to their closing but it certainly helps to move inventory when you offer an incentive. 

That is not a benefit for you, nor any kind of evidence that they are worthy of becoming a resident.That issue aside, I would not allow someone with a recent eviction on my property unless the "unfortunate circumstance" was unlikely to recur AND they otherwise have a strong historical track record of making payments AND they would put down a very large security deposit.

Breezeway allows us to easily organize all photos by room and generate a downloadable document for reference.Once a tenant moves out, we follow the same process to document the property's condition and determine if any amount needs to be withheld from the security deposit.Additionally, we require new tenants to complete and return a move-in inspection document within 3 days of moving in.

Murray Hill is a great area that will fit your budget and allow you to maintain occupancy. 

The Taxable Value is uncapped and equated to the SEV upon a sale or other transfer of property ownership, with limited exceptions.Homestead versus Non-Homestead Millage RatesCounties & cities in Michigan are allowed to set their own millage rates, with one restriction – a primary residence (Homestead) is exempt from up to 18 mills of school taxes on their Homestead property.

*Sources: Old Town North Power Plant Redevelopment Frequently Asked QuestionsPotomac River Generating Station CITY COUNCIL HEARING (Detailed breakdown of the project here)Old Town + All of Alexandria: Alexandria's RiverRenew Program Will Allow Residents to Swim and Eat Fish From the Potomac River by 2040Alexandria's Potomac River waterfront properties have served residents with phenomenal views of the river, National Harbor, and Washington D.C., making the real estate there incredibly desirable.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

That allows the payment to be low, manageable and easy to cash flow when you transition it into a rental.When you move out you will have more money in the bank, stronger assets, and be cash fluid in case you need to make an offer on more investment properties.