Review all leases.

I have managed these properties from renting to leasing/repairs etc.

Using a 25 acre partial which is a lease size the government would give him land for.  

Be prepared to navigate through potential tenant issues and lease terms. 

But also what will be the cost of the new land lease?  

One demanded we paint the interior the color they wanted or they wouldn't renew their lease.8) MoveOut damages typically exceed their security deposit.

The avg equity position upon completion is about $150K with avg rent of $2,500 leasing in 3 weeks or less post CO. 

No urgency or incentive to get them leased. 

FHA is for sure not going to be an option for him, last option is purchasing from an investor with owner financing, or lease to own program where he will not need traditional financing. 

Buy the property, lease it up and refinance.One thing you’ll want to know about the credit facility is not necessarily the margin call parameters, which I wouldn’t be concerned with if there is a significant amount of equity in your investors securities securities portfolio, but what are the other terms?