Apprecaite it and that sounds like it could be a great option for some future purchases that need a decent amount of work. 

To that effect, I'm thinking of offering to cover half of the excess usage ($500 for Jan/Feb - $100 Normal Usage = $400 split in 2).

Thanks It’s not a $1 property, it’s really property in most cases at minimum an 150k property after repair expenses that might only be worth 100k in effect it’s not a one dollar property, it’s a negative 50k property.

@Alison CromwellIn order to obtain a flip loan with no consistent income history, the following steps need to be undertaken: create an impressive credit score, put aside more funds as a down payment, check out new methods of getting funding besides what is available from banks or other financial institutions, involve yourself in investments with toughened entrepreneurs, show how financially sound you are by doing things such as getting enough money into savings over time through frugal living habits or accumulating valuable assets that can be readily converted into cash when required among others like developing several stable sources of income or steadily growing one.

Price your apartment effectively so that it reflects market value. 2.

It sounded like you were looking for something smaller so I did not mention it.

We have in effect done a pocket veto as we have not responded, but I plan on responding indicating we need above LTR rates otherwise we can just switch to LTR increasing our revenue due to reduced expenses.  

My goal: create an interest-free loan which is appealing to a potential homebuyer, yet doesn't make too big of a discount on my end.For example: If I sold my $300,000 house with 20% down ($60,000) over 30 years, at 6.7% interest rate: $1548.67 principal and interest per month1548.67 x 12 x 30 = $557,521.20What I would do would offer a lower monthly payment and no usury, but it would effectively be like a prepayment penalty.Arbitrarily, let's say 20% off the monthly payment, or $309.73 less per month: $1238.94 monthly payment.House would be sold at $446,018.40, which is $111,502.8 less than the total paid with a normal mortgage, but $116,018 more than the market price.

On the surface it also sounds like you have a lot of local support for managing and maintaining the property but I suspect that will kill off most of the returns.The real information is somewhat hard to come by as the developer controls much of the market, the rental management, and a lot of the previous pricing data as they didn't report to MLS for much of their history.  

That sounds like an almost impossible project to be successful on.