In the multi unit buildings I put on lease "Each tenant shares responsibility for removing snow and salting on both walkways and sidewalk infront of property" and I have them initial before we execute lease.

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"Which initially I was expecting to pay for nothing.

Although the tenant initiated the payment on 12/31/2024, the funds didn’t reach your account until 1/6/2025, making it 2025 income.

It sounds like you have an un-permitted unit, which is essentially always a risk since there has been no notice to the AHJ that it exists and they can therefore initiate a code case to have it removed in most cases.

If I have several options, I would prefer a HELOC with no initial draw requirements (i.e. to establish a literal line of credit that I have no specific short term plans to use), i.e. not something like the better.com HELOC. 

the guy said they have been in the market for 6 years..Hello Mr.

Options like a unique amortization schedule or a 3/2/1 or 2/1 stepdown interest rate could provide initial relief to get you through the renovation phase while giving the seller confidence in a structured payoff plan.To determine an entry point, consider reducing the price based on the current NOI.

We added value by investing $45,000 in well-planned renovations, modernizing key areas, enhancing curb appeal, and ensuring market-ready quality.

If you’re in the market for long-term buy-and-hold new construction properties, they’re definitely worth considering.