Waste of time, huge room for error and zero reason for a customer to do this.....any Contractor worth his salt will have better pricing/quality/selection on the big stuff and will have guys on his crew that can do those dreaded 'parts runs' for the little stuff. 

If I were to do a traditional VA loan, the loan would be close to 7%.Below are what I understand to be the numbers so far:Seller purchased the property in DEC 2022 for $1.13M (owned for 2yrs)Current estimates are Zillow= $1.26M/  Redfin=$1.323MOur agreed purchase price is $1.25MSeller financing would be $120k @ 8% for 3yrs.No commission cost.Small percentage of fees/ costs in the tune of 1.5% of loan amount.Let me know what you think and if you need any additional info.

You have to put 5% down vs 3.5% down, rates are usually higher, but if you have strong credit, your PMI cost can be cheaper than that of FHA loans. 

Variable cost and CapEx are where I see most investors make errors on their Pro Forma.  

If convenience to local Houston attractions is the primary reason why someone would stay there consider highlighting that in your photos.

I've done this on one house in order to cut costs - since then, I've added a meter with the utility company but it's a good workaround for the short term. 

I feel like there's still people trying to make BRRRR deals work close to the city and the truth is it's nearly impossible given prices, rates, and the cost of construction.

My last transaction is up ~$1M above costs. 

(we all know the reason why) In the meantime, should I just move forward with the lease and let them know they need to provide it when it becomes available?

Selling and buying something else you want keep and doing a cost seg in would help with the tax burden probably better in this situation.