The due diligence part of buying commercial real estate is a lot more intense than residential.

Hopefully when I do decide to sell, I can work out the 2/1 vs 3/1 issue and get it appraised as a 3/1.

Price will depend on the terms we work out. $500k if you give me the normal amount of time to get a normal mortgage.$525k if you give me twice as long as the normal mortgage process normally takes, so I can get a renovation loan.Maybe the ballpark market value of the home is in the $500k to $550k range.

Is Rich Dad's son going to take the hit if it doesn't work out?

Running numbers that way may definitely workout better in your favor.

How the tenants want to work out splitting it is their business.

That won't work out well for you or the affiliate - it's not a good way to start - especially when there's a wait list of people who would love to have this property and would see it as a great value.

Real estate is one of the most amazing wealth generators you can find, but it is a cash intensive sport.

This may work out but it may also cause a problem for your investment.

I will now try to renegotiate with my current contractor, and if that doesn't work out, I have new options.I am leery of publicly posting names and prices quoted over the phone, since assumptions and bargains were made verbally.