Oversimplifying it just a bit, the investor profits from:- a non-refundable option paid by the tenant-buyer which gives them the right to purchase the property within their option period- the spread between the rent paid by the investor to the property owner and the rent paid to the investor by the tenant-buyer over the life of the option- the spread between the price ultimately paid by the investor when they exercise their option with the owner and the price ultimately paid by the tenant-buyer when they exercise their option with the investorClear as mud?

A no contingency sale would be more common in a severely distressed non-functional property where there will be so many material defects that the buyer could not feasibly negotiate until they evaluate them.  

That's a non tear down resale as well.

But you can get value out of all of them if you work them right.The reality is, for profit or non-profit, all REIAs have costs to cover just to operate.

Unlike Mexico, where foreign loans and conventional mortgages are non-existent, the mortgage rates and programs for buying a home in Puerto Rico from the US are not only available but actually attractive.

Im aware that you cannot file or claim it on a non-primary property.

So, every non-government job your tenants have will vanish in the foreseeable future.

LENDBASE has the following feesConventional:1% origination fee$500 doc fee (est)Title Work TBDAppraisal $2000-$3000Environmental $0-$2000 (depending on search) Which all seem pretty normal, but FIRST they require you pay them up front $4,000.00 to start brokering loans, it’s their "non-refundable engagement fee.”Has anyone ever heard of this ever?

Non-passive to achieve this level of return.Add the addition of the ADU makes the main unit rent controlled if over 15 years old.the work to add an ADU likely exceeds the effort of a brrrr that can achieve infinite return  Experienced investors are adding multiple ADUs by leveraging items like bonus density, committing units to affordable housing, etc.  

So for us to use a metric that looks at having to make $100K on a deal to make it worthwhile is a non-starter.