Luckily I didn't because it's great now...but I didn't know that at the time.So I'm going to push back on the numbers people and say I don't think you're looking at the big picture and I also don't believe your numbers protect you from failure or guarantee success.

A smaller valuation would mean less out of pocket to buy out your siblings and lower taxes, but it would also mean the lot rent is a much higher % of valuation.I can almost guarantee you can find properties in Grand Rapids that cashflow because I've found them all over the Midwest. 

Keep in mind that you will probably be required to sign a personal guarantee of the loans.

It's no guarantee but it's a good place to start.

Sometimes paying a premium on a home also guarantees a higher demand in the neighborhood and with that may come a higher demand for a rental as well.  

I would have a conversation with the tenant, and then after that if you determine that’s in your best interest and theirs to seek out a new tenant give them plenty of time and make sure you leave amicably because in case you get more rentals and they are looking in the future, I have a higher income that relationship is sure to last, which means that you have guaranteed business in the future.

Your money is guaranteed by the bank. 

Your goal is to secure this payment at the 18th month mark, by either selling the note to an private investor who's interested in a guaranteed 5% or you're going to refinance and pay the note off completely. 

If you allow pets, your lease should require proof of licensing, regardless of breed.If the owner lets them run, with ensuing "incidents," I guarantee that violates city statutes.I (personally) would advise getting rid of the tenant.

and it definitely has felt that way haha, I've been posting it EVERYWHERE.I was drawn to S8 for the slightly above/guaranteed rents and the very long term tenancy.