Wash, rinse and repeat!

It's not owning the property.Hope your seller remains solvent and not sued so his property doesn't get a new lien against it while you're making all those principal payments.  

Can anyone share a proforma to model NPV of just selling the vacant lot to a nationwide car wash ($1.5-$2M) - vs construction costs to build out for a QSR or something similar ? 

I'm comfortable with knowing that it could make it more difficult to sell in the future, however I would be purchasing it at a discount now so that part feels like a wash.

I'm guessing that you are primarily looking to see if you can wash out some of the cost of the purchase with tax deductions?

______All window coverings must be straightened, washed, cleaned and dusted or replaced.

Was he demonstrating how little he gave a f*ck by writing such tripe? 

As far as "new construction slowing during a decline", that was true for past econominic cycles, but this downturn's dynamics seem different...in most markets, we are undersupplied when it comes to housing, and also, there will always be hobbyists, i.e. the guy who owns a few car washes in town, or a few cell phones stores, et al who likes the idea of buying some land to build a house/houses, or some rentals. 

Oceanpoint is not part of Morris Invest therefore Morris Invest washes their hands of management problems after the sale.

That way you get a structure much like renting it out, BUT wash hands of the big negative of that maintenance bomb because it's transferred onto the tenant/buyers.