A credit for repairs would be Fannie Mae spending up to $7000 to repair the property and presumably accommodate financing on it. 3) This is more than 6% credit.

Are conditions for backing out normally listed in the written offer, which presumably need to be met in order to back out? 

I did throw in some guesstimate numbers for presumed purchase costs, but would like to get into this property with as little out of pocket dollars as possible.Provided my assumptions are reasonable, I'd like to make an offer, and then confirm the deal by completing MH Park due diligence to verify the assumptions...but that's for another discussion thread!

My family owns a small vacant lot in a relatively-desirable area of Metairie, LA (New Orleans suburb), in Bucktown to be exact...I would like to get some feedback from the BP community around potentially trying to do a land lease on this property whereby we grant a developer the right to lease the land, develop an investment property on the land (presumably a duplex or triplex, given its location and size), operate that investment property over a long period of time and pay us scheduled rent over a significantly-long period of time.Is this common/feasible in Louisiana and the Metairie/New Orleans area?

3) What would you do with the realized profit -- if the answer to #1 is "yes", presumably you would reinvest the profit into another property. 

Several hour later, I looked at the property on Zillow and learned that the agent I spoke with is also the Listing Agent for this property.I presume there's some legal way for this agent to represent both me and the seller in this deal (either via dual agency or as a transactional broker). 

Just to clarify on@Jeff Devillestatement for crowd funding in equity investments the depreciation and potentially interest expenses are passed through to the investor so you do get the tax deferred benefit presumably for a shorter investment horizon then say buy and hold investing.  

@Natalia Soares presumably you are talking about 90%LTV or 100%LTV Heloc’s on a primary not a rental?

i wouldn't presume to tell someone whether or not to cancel a contract on a primary, but maybe the community can help you analyze what it will look like to keep the rental.depending on your and your husband's W2 income, for example, you might be able to offset some of your taxes via the expenses and depreciation on the rental. 

This is presuming someone with existing cash value, but the fact remains, $85,000 growing at 9% WILL catch up to and surpass $100,000 growing at 6%.