THis is a scenario, its not a deal im working on, people sometimes have accidents or what not and need to get out of debt fast, i know this type of deal exist but i dont know the name for it.

I have a piece of land behind an existing rental that is almost 1.5 times the size of the standing triplex. 

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

George Washington acquired a significant amount of land this way, and shortly after acquiring such created SYNDICATIONS (he later used JOINT STOCK COMPANIES when they came into existence) to raise the capital needed for development.  

If you price the deal based on the current rent roll, you will not be remotely competitive in your offer, since many other investors will price it on $1,600/mo, with a small discount to account for the remaining term of the existing leases.On expenses, as noted, what seller pays is likely very different than what you will pay.  

Existing Renters1.

Thanks Ned, Short answer to explain it, I did not know they were around back then, just found out now when we are coming back, a little background, when I started in 2005, I was a child :) 28 years old and thought I knew it all, all, all :), did not know about hard money lending, only new about bank loans, and Home equity lines of credit, did not know where to find more money, since I did not have much, I would rely on what I could get from banks, loans, credit cards and was not always that great, it was a learning experience.....and Wholesalers, I did not know that even existed, everything I would find back then was already on the market and through a "friend" agent, MLS, FMLS and all those, nothing like what we have today.

They're all private/HM lenders, but they do exist. 

or my existing lenders are tapped out? 

We've been honing in on a pretty good development/investment formula that is working for us where we buy an existing single or multi-family house that can be improved or easily split into smaller units, and then we also add small new construction units to the property (townhomes or duplexes or cottages) and, generally, we rent them all out (though we have sold a couple of single family rehabs and we may sell the units in our next big project...