If it were my stairs, I would have regular oak treads put down and then have an inexpensive runner tacked into place to protect the treads and provide better footing. 

10 roofs 10 tax bills 10 insurance policies 10 wet basements 10 closing costs 10 clogged gutters 10 city code inspectors 10 yards to mow .. the list is endless .

It may be a non-issue to take out the cash even though it's in an LLC.Also, I agree with @Michael Plaks that this is a topic that has been debated endlessly but in practice have seen LLCs for each property or grouped by similar assets (SFHs, land only, etc).

Even worse, if your "about 4.5%" interest rate proves to be not conservative enough.Extrapolating your idea, if you did this every time you moved, you'd always still be looking at negative cash flow while they were being built, and likely while you were living there.I worry that somewhere along the way, you'll be taken advantage of by your building contractor/s, who might start seeing you as an endless source of guaranteed dollars.People tend to not be as careful with their money as they should be, if too readily available. 

Hello All,I know that Master Lease Options have been discussed a ton on here, but after searching endlessly I couldn't find anything addressing some specific concerns/questions I had so here it goes...The potential seller is a full time firefighter who has 3 very involved kids and is also a part owner of restaurants across the country with his brother. 

No realtors or endless showings.  88% of asking (very specific number with no zeroes)Be the bank.  10% down, market rates, payment of $600 per month automatically to you from a local servicing bank.  95% of asking price, but no zeroes.Lease option. 30 months, $600 a month 1.5% consideration.

Milwaukee is a HOT market with what seems like an endless amount of potential that shows no major signs of slowing down!

No need to conjecture endlessly

Unless you yourself can do design drawings, you will basically be acting as a plan runner just visiting the city, and being the "middle person" could slow down the process.

The work you mentioned is absolutely negligible and you will open a real pandora's box bringing inspectors into your home and start an endless stream of trouble.