Along these lines, we send out a weekly newsletter to our list, sharing things going on in our market, as well as more macro, in the real estate market and economy.

It's a pleasure to meet you, Andy.. are you considering venturing beyond single-family homes down the line?

.), and anything else that is important to them.Ask follow-up questions to dig deeper and learn more (without being too intrusive) then jot down any relevant notes so that you can reference them down the line during your follow-up calls.

The other way I fund deals with none of my own money is using a private lender that I have years of experience and relationship with and/or using HELOC and other business lines of credit.

The generally equates to a tiny 3 bed 1 bath home that is in need of renovation, and either no basement or unfinished.

If you can get land for a good price and let's say build a modern quad with 1200 sqft 2 bed 2 bath units and garages for $200/sqft you are looking at about a million.

I was thinking that by giving a single builder rights to build on the land, I would get 1% of each contract price, something along those lines.

@Ken M. rents are softening in the places that have had a lot of new units come on line.  

This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.

Bottom line, this is a short-term rental in a market where the average nightly stay is 2 nights.  90% of those are on Friday and Saturday night.