BRRRR definitley helps, you'll need that equity so you have options. 

In addition my investor is exploring the option of getting a variance to add a parking spot in the backyard of the property.

If he says no, is my only option to back out and lose the earnest money deposit ($6,000) or go forward with the purchase, knowing I'll have a $3,000 - $5,000 bill or more if I decide to do this later?

In Gary Keller’s book, Shift, he lists 25 creative options that are most common, but barely scratch the surface:- Seller Contributions- Seller-Funded Permanent Buydown- Seller-Funded Temporary Buydown- Owner Financing- Contract For Deed- Seller Second Lease Option And Lease Purchase- Seller-Assisted Down Payment- Wraparound And Assumable Mortgage- Gift Funding- Selling And Refinancing Existing Assets- Non-Occupied Co-Borrowers- Using 401(K)- Temporary IRA Transfer- Pledged Asset Mortgage- Equity Transfer And Bridge Loan- Employer-Assisted Mortgage- Lender-Funded Buydown- Fannie Mae’s “My Community Mortgage”- Running Scenarios With Automated Underwriting Systems- Adjusting Amortization Period To Lower Payment- Adjusting Interest Rates To Cover Closing Costs- State, Province, And Local Grant Or Bond Programs- Mortgage Credit Certificate- Private LendingHe said these options barely scratch the surface.

There is also a two piece option, one piece being the tub, and the shower walls being one piece.

I have to say the curriculum was very comprehensive, they covered everything from sandwich lease options to sub2.

Another option is going to be looking for off market deals, but they are going to want all cash or hard money loan, which you could do for a year and then refinance it once the property passes inspections for a long term loan.

Cant speak to your other options.

Hello - I am currently selling a 4 unit property and was approached about a Master NNN lease option deal on the property.

The city taxed the owner out of business, charging $21k a year in taxes, and all potential buyers were aware of this tax burden.We had other bidders, many of whom were churches, but they couldn't secure financing due to the high purchase price of the building.If folks like Former City Councilor Sarai Rivera were so worried about what would become of the building, they should have come forward before the sale.Personally, I'm glad they didn’t because it's one thing to be forced out of business and have your selling options limited by the city's burdensome tax policies.