If I were you keeping the property as 4 units and renting out bonus unit under the radar may be your best option especially if you plan to refi or do HELOC while occupying. 

I would like to work out a payment plan whereby they pay me while I have control of the rights to the mortgage then in 10 years I pay off the principal.

I plan to own a real estate business and start flipping homes.

Reach out to my survey and engineering company that is doing our plans for our land.

I'm not too hung up on this, because the margins still appear very attractive (from what the agent speculated ARV). my hesitancy stems from a lack of experience and direct steps/plan of action to take on a property I like. 

You’re building a thoughtful plan that’s set up for success.

To succeed with the BRRRR strategy, focus on buying properties at a discount, work with trusted contractors, and plan for refinancing timelines.

With that being said, what do you plan on doing different this year in your business?

If you are a buy and hold investor and have no plan to force equity that is a different story.

No I wouldn’t pay it and I would plan that potentially if I don’t pay it, they leave.