In many areas, I think some of those considerations and regulations are warranted, since those areas are zoned exclusively residential, are filled only with sfr's, and an str is a commercial endeavor. 

Hi All,I would appreciate thoughts/ considerations/ cautions for analyzing a mixed use property that has a duplex with a regular apartment next to a small storefront that's soon to be vacant?

For extra formality, put it on a nice document with your letterhead.Re: Non-Binding Letter of Intent to Purchase Real Property Located at [Property Address]Dear [Recipient's Name]:This non-binding Letter of Intent ("LOI") is submitted by [Your Name] (the "Buyer") to [Recipient's Name] (the "Seller") with the intention of setting forth certain preliminary terms and conditions for the proposed acquisition of the real property located at [Property Address], inclusive of all improvements, appurtenances, and fixtures thereon (the "Property").Purchase PriceThe Buyer hereby proposes to purchase the Property for a total consideration of $[Amount] (the "Purchase Price"), which shall be subject to adjustment based on the results of the due diligence investigations and final negotiations.Earnest Money DepositContingent upon the execution of a definitive Purchase and Sale Agreement (the "PSA"), the Buyer shall deposit earnest money in the amount of $[Amount] (the "Earnest Money") into an escrow account designated by the mutual agreement of the parties.

The second consideration is that students or rather their parents are willing to pay for the newer nicer properties with more amenities.

@Ryan SummersThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

As title above. Is anyone in the Cleveland area finding success with ADU on property?

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The beauty with the seller paid is that the money goes into an escrow account and if you refi or sell during the buy down period, the left over funds go towards the principle, so it’s not lost like if you were to buy down the rate with points and then sold/refi in the next few years.Hope that makes sense but let me know if there’s any other considerations or something I misunderstood and we can continue brainstorming!

However, if you prefer to meet in person and not over zoom or some other digital means, that would be a consideration.

If you basically promised him, he was going to get $2100 at the end of the day and insinuated that it would be in a certain amount of time then take that into consideration.