Depending on where you are at maybe being able to designate one of the units as that would save you. 

I think a decent litmus test is that if you don't feel 100% comfortable walking in the neighborhood at night, you should avoid investing there.

This open concept home includes designer styled kitchen with custom cabinets, granite counter tops, stainless steel appliances including a stainless steel farmhouse sink, vented hood system, and a stunning glass tile back splash.

I would say that if you are not comfortable with anyone than you shouldn't go with them. 

Most people wont go that extra step.Oh, and by the way, don't send beautiful well designed post cards.

Perhaps there is a middle ground where the $145K balance has to be accelerated down a certain amount for the lender to be comfortable with the release of the subdivided parcel.

We will need to mortgage the condo or sell it in order to outfit our home (and my brother-in-laws home) for my in-laws to live privately and comfortably.

For the language in the lease, I would just add provisions there on what you're comfortable with.

I have one question -- there are usually a ton of hours of prep work to furnish and design the space (after renovations are complete). 

This open concept home includes designer styled kitchen with custom cabinets, granite counter tops, stainless steel appliances including a stainless steel farmhouse sink, vented hood system, and a stunning glass tile back splash.