I'd rather pay less now with a higher rate that I can refi out of than wait until they are lower and pay more (and probably have worse terms in the contract too due to multiple offers).  

@Cody AndersonSetup a good contract with all the possibilities if someone wants to leave the venture.

I had a family member pass away with no will and I’m looking for legal advice as to who would have rights to the home. 

Hey first off that's awesome you have a ton of experience with contracting at this point!

It was written legally that I am able to purchase the house from the trust for the original purchase price.

Financially, the numbers make sense, but I need to have a proper inspection since this is my first home (and I'm going unrepresented) and the house is built in 1915 with some renovations that were clearly done by the investor selling the property rather than a professional.Question: Although  previous owner has owned the property for 3 years and rented to tenants previously, should I be concerned that the legal zoning is only for SFH?

I am wondering how I should handle the contracts/payments between SMLLC and ME (who own the lot) for the build.

It's always great to see new faces getting into the mix, especially with your background in contracting – that’s a huge plus when it comes to investing.

The best answer I found was looking at it from a tax and legal perspective.

You should have the contract modified laying out all that you want the seller to take care of due to the inspection.