Yes, as the others have posted, you can have a lease duration as part of your rental criteria.

My friends dad has a lifetime of experience in construction so they put quite a bit of work into the house throughout the duration that my friend lived there.

New Owens Corning Duration architectural shingles with SureNail strip will be installed with 1 ¼ inch galvanized roofing nails at six nails per shingle.11.

Typical project durations?

Reasonable rates at 10-years plus duration and 60% LTV, (very safe), but the funds come from private individual sources and for that networking is imperative.Crack that nut and your off to the races.

I am assuming up until May as this is the normal lease duration for this market.

Then he gets $600 a week from refinery contractors staying in the house for the duration of their short term job. 

In addition, we should also look at the duration mismatch between 1st and 2nd.I personally think mezzanine is the most risky deal since you are responsible for both the 1st and 2nd.

Purchase price with Hubzu fees:  $159,139Expected renovation costs:  Less than $15kAfter repair value (ARV): $230k to $240kHolding costs:  I don't consider holding costs since it will be my primary residence for the duration.

In this case since he is interested in investing for the long term, there would likely be no early payback option meaning the loan would carry the duration of the term, given his age I would assume he would be willing to do a 30yr term if the numbers were right.