If they want to stay, they will sign a new one-year lease with a monthly rate of [$XXXX].

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

Did most of the work ourselves.

The things that give a rental a value in cashflow are benefits to the tenant in the form of living amities. 

This is a great place to learn and to connect with people so take advantage of all the great resources.

The power of the Roth combined with alt assets like real estate is 2nd to none! 

I have a unique deal that the property owner is just wanting the builder to build him a home for "free" and he will sign over the land.

The signing parties are "stopped" from saying anything different after they sign the letter.Each Tenant Estoppel Letter states the attached copy of the tenant lease is accurate and was signed by the tenant, there are no other written or verbal agreements, the tenant has paid rent through a certain date, and there is no prepaid rent other than the current month.

Unfortunately NY requires a RE license to wholesale in the state.

Quote from @Todd Boone: If it is, what kind of investment?