You can always include the cost of the land into a construction loan but if you purchased it already it can play in your favor.At the bank we do all of the work you basically apply for the construction loan and the Building department along with processing sets up the entire process.

This tenant is under the impression that since the paper he signed when he signed his renewal didn't clearly state the sale clause that it doesn't apply.   

It’s really difficult as lease rules like 3 day eviction do not apply to section8.

As work is complete, you can apply for draws and you'll be sent the money dedicated to the completed work.  

Most note investors are aware of SOLs but believe the shorter note SOL applied for both (myself included at one time).

That’s great advice to evaluate the potential increased cash flow versus applying the extra money to a different asset. 

If he opts to buy the property, rent paid during the lease period is applied toward the purchase price.Because owner financing can be complex, we recommend working with a licensed attorney who will consider your best interests when drafting the necessary documents.Good luck!

My understanding is that a gift cannot be used as a down payment for an investment property, so my thought is to wait 2-3 months before applying for a loan, to season the funds. 

@Tim PhillipsRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

So the LTR provisions will apply, whether this being furnished changes any of the RSO guidance or not I can't say.