I have one I have drafted up but would love to compare against others.What are some items you always included in your MTR rental agreements?

I will always look at the air handler and make sure tenants are installing fresh filters (most neglect this item).  

In my area (near the beach) its mostly families and they want cabanas, baby items, chairs, coolers etc that we do not provide but I have a local vendor that delivers and picks up these items and charges a few dollars per day for each item, and give me a 20% referral. 

They won't learn those items until they actually do deals. 

This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.

Are these the only items we need to document?

I would only recommend purchasing items that fall into that vision. 

It would cash flow nicely.One item to plan for from the beginning is the exit. 

Basically almost all the items you mentioned when traveling can be written off to a certain extent.

Due to item 1, adding an ADU can require years to start achieving any return (once the accumulated cash flow recovers the initial negative position).4) Adding an ADU is a slow process.