See what the city or county wants to go there and see it fit within your plans.We had a developer exercise before where the developer showed 4 plans. 1st one was what the city wanted lots of trees with very little buildings. 2nd one was what the  tenant wanted tons of parking and a small building they pay rent on. 3rd was the developers plan that had lots of building for rental income and a smaller parking lot and limited greenspace.The 4th plan is the one where all of those come together to make a project viable where the tenant, city or county, the public, and developer get some of what they want.Sometimes it can't come all together and projects fall apart.

You may exercise this right of call anytime during the thirty (30) day period immediately following the fifth (5th) anniversary date of the loan and at any time during the thirty (30) day period immediately following each fifth (5th) year anniversary date of the loan thereafter.If you exercise Your right to call the loan, I WILL BE REQUIRED TO PAY THE LOAN IN FULL (OR ARRANGE NEW FINANCING) BY THE CALL DATE.

Unlike the TI the property owners own an interest in the trust itself rather than the underlying property making it easier or the trustee to exercise control of the underlying property. 

Then on exercise of the purchase option you can get him his 50% (with the idea that in the meantime cash flow has increased and a good loan is more likely).

I would suggest doing it 1-2 years at a time generally and have them renew at the end of each period if they choose not to exercise their option. of course one important part here no matter what approach you take is for the poor credit buyer to work hard on improving their credit.

That being said, I have avoided calling my mortgage lender to date in fear that they'll exercise their rights to call the loan or force me into a refi.After reading about "extenuating circumstances", I don't think that they apply to my situation.

The idea is to get the property under control with the MLA, then exercise the option. 

If you commute to work, or exercise, or cook dinner, or clean the house, or anything..

Downside is if the tenant doesn't exercise the option, & any repairs that may have been needed during the course of their stay was either sub-standard or not done.Do you know why he wants 30K?

My question is, are they creating excess noise through their activities (loud music, exercise, kids playing, etc.) or is the condo so poorly built that ordinary noise travels easily?