Cleveland City Council in 2019 passed legislation that requires owners of rental property in the City to prove that their dwelling units are safe from lead hazards."

There is nothing wrong with what you are proposing, especially if you are living off the cash flow.

When we asked the other realtor if the tenants wanted to stay they replied with "They will stay on but current owner will not discuss proposed increase with current tenant".

@Alex Ea can you disclose your role in this proposed venture?

The town requires septics to be upgraded within 6 months of transfer of ownership so I had proposed an installment plan offer, doing a house every 18 months and refinancing out to BRRRR the money into the next house. 

"Given the risk to businesses considering eviction records during the effective dates of the legislation referenced above, AppFolio will no longer be reporting Landlord Tenant records (i.e. eviction records) created and/or filed from March 1, 2020 until August 31, 2021 on our screening reports effective immediately"Cleveland Did an amazing job getting rental assistance to struggling tenants ( I helped get 15K of rental assistance to clients), and they still moved forward with Evictions for Problem Tenants( like the Drug dealer waving a gun at my other tenants) So in Cleveland, If you got evicted in 2021/2020, you really earned it.

This has been approved by the council etc, and I now have a class C quote of around $300k for the new build, including 10k for the foundation work.I estimate I will be able to rent this two bedroom standalone for around $1800-$2000 per month.I need to write a business case to present to the bank to get financing and so I need to figure out ROI etc.This is in a very desirable town with 0% vacancy.Any advice on how to get the refinance and what to include in my proposal to the bank?

If that does not work, you might be better off walking away with the 1/2 he is proposing if he does not budge.

So it's probably a good idea to wait a month or two until the Build Back Better legislation is passed before investing your SDIRA into a private deal.

A lot of legislative things in CA this month.