As a buyer and someone who does wholesale when properties that don't fit our buy box come through our pipeline, I don't ever count other people's pockets as long as the deal makes sense to me, than why worry how much someone else is making on it.

Pay the contractor for the removal and what ever else he did . 

The agreements I've seen basically say you are guaranteed nothing, you could lose all your money, you might not be paid on time or ever, you can't rely on any representation made by the GP, you have no control over the operation and other terms and disclaimers to that effect.

Now you have the largest generation in their late 30s early 40s buying their first home.

I wish the parties the best in moving past this issue we’ve identified…as I suggested, you should contact all the tenants and proceed with a new lease with those that are interested in doing so.My question to the forum:Has anyone ever ran into this before? 

I know how exciting (and sometimes overwhelming) scaling up can be.If you ever want to swap stories, and strategies, or just chat about deals, let's connect! 

Lot split by far has largest upside, but it is also the most work with the highest cost.  

Just based on this number I would tell you it is a terrible market and Jason is completely inaccurate. cape and lehigh are poster child for massive subdivision built in the 50s 60s that market has been a yo yo ever since.. lot prices go down to 10k in lehigh when things are like now and then shoot up to 40 to 60k when you have a building boom like 3 years ago with outside sales influences. 

You are going to be thousands in the whole before you ever start and any cashflow you get from a rental will be eaten up in tax and corporate filings.

I currently own a SFH in Staten Island, NY, I am a real estate fanatic ever since I could remember.