Do you consider worst case scenario and base your potential offer based on this? 

I love seeing long-term plays like this pay off.

This is an incredible community and I'm sure you'll find it helpful. 

Looking forward to learning, collaborating, and growing in this new market!

So for example I'm very conservative and don't want any debt on them because I feel this hardens them in case of a severe recession.

.✅ Start demo—this means ripping out finishes (cabinets, flooring, tile, trim), not knocking down walls unless absolutely necessary.✅ Clear the site—haul off junk, trim trees, and clean up the yard so you can actually see what you’re working with.Get this step right, and everything else will go a lot smoother.

This is true for me anyway. 

After doing this successfully 5–10 times, I’ve found it to be an incredibly effective strategy when approached carefully.I'm curious to hear from others who are pursuing similar strategies.

I'm wondering if there are companies that are doing this that I could connect with.

No recommendations but this looks like quite the project.