This is pure speculation on my part but it feels like they may be trying to capture one more month of rent from the existing tenants. 

It is a pure, unique, and organic material, with an abundance of character and personality.

Here, it wouldn’t matter what language you’d put in a mtg....surplus is awarded purely by state statutes, and no language in the mtg would affect this.

In effect, I would have paid over $675 in pure interest to them as a result.I also asked to have the first 5 months of the mortgage payments wrapped into the loan so I wouldn't have to pay for anything during the construction timeline (and flip of the property).

This is not say that one would buy real estate purely for the tax benefit.

Purely anecdotal from talking to a person who owned a large barn he rented out, but the amount of notice you have to give is very short compared to a tenant living somewhere.  

BP's rental calculator is pure gold in making quick deal decisions by analyzing multiple deals to narrow down best options.

This would be a pure appreciation plat and I wouldn't want to do that this far in the real estate cycle.

Now things come up, other needed work is found once the job starts that wasn't obvious before...... so BOTH parties need to be aware of that factor and keep that in mind for overall cost....... so I don't see ANY reason to accept a pure "time and materials" quote from a contractor unless you REALLY trust them.... that's blank check......

What makes a self-directed IRA custodian different is that they are not purely connected to the public exchanges and limited to investing in stocks, bonds and funds, but rather have the staff training and paperwork to document the IRA's investment in the more individualized transactions that occur when investing in real estate, notes and other non-traditional assets.