If it looks like a tough go, you can walk away or renegotiate price.  

Not every off-plan project is a surefire win; some are overhyped, and others don’t live up to expectations once completed.

What I am trying to ask is does a bigger project still come out to about the same price per SqFt with similar scope of work?

For example, their rent is $2000, they pay me $1000, I then apply the $1000 to the renovation project, which they estimate to be around $8,000.How should I write up the lease agreement as far as collecting the rents?

However, the City initiated the “Buy Into Baltimore” open bid program (which we’re interested in participating) through which you can bid/buy city-owned abandoned/vacant properties for redevelopment/resale.The problem is, there are so many blighted neighborhoods in Baltimore, it’s tough to know where to start.

You can basic info on short term rental projections and occupancy rates with a free account, but will have to purchase a membership to get detailed info. 

In the end it's my responsibility to forecast any big projects that may happen in the next few years and make sure I'm covered for those.

Just ensure that the projected rental income comfortably covers the new payments, including the HELOC.

Very tough to do.

I wish we had this mechanism up here in the NW It would allow many more projects to get built.