The actual video has all the stuff you said ( sqft, beds, bath etc.. ) and we send that as a follow up to the interested parties as well as posting it once it goes live on the MLS.

Maybe 7% with a 3 year balloon would work for all parties?

I use this method for most of my acquisitions.My own cash, line of credit, private party and temporary financing make the acquisition.  

Long leases are traps for both parties. 

Interested parties simply contacted our realtor (he had applications at the open house) with all of the required documentation (paystubs, application, application fee).

Independent third party assessment will be considered an important part of the enhanced prudential standards.

After that you can do seller financing, private party loans, portfolio loans, commercial financing.  

To you this could mean that while most areas have very low dollar margins leaving little room for a third party, in NYC margins are much higher in dollar terms so if you can find a way to work with someone they may have money to pay you out.

IF, FOR ANY REASON, SELLER (A) IS UNABLE TO MAKE THE TITLE INSURABLE OR CORRECT TITLE PROBLEMS OR (B) IS UNABLE TO OBTAIN TITLE INSURANCE FOR THE PROPERTY FROM A REPUTABLE TITLE INSURANCE COMPANY AT REGULAR RATES OR (C) DETERMINES IN ITS SOLE DISCRETION THAT IT IS UNABLE OR IT IS ECONOMICALLY NOT FEASIBLE TO CONVEY GOOD AND MARKETABLE TITLE TO THE PROPERTY INSURABLE BY A REPUTABLE TITLE INSURANCE COMPANY AT REGULAR RATES, AT THE CLOSING DATE, AND SUCH CLOSING DATE IS NOT EXTENDED OR OTHERWISE AMENDED IN THE SOLE AND ABSOLUTE DISCRETION OF SELLER AS SET FORTH ELSEWHERE IN THIS AGREEMENT, OR (D) DETERMINES, IN ITS SOLE DISCRETION TO DEEM THE AGREEMENT NULL AND VOID IF REQUIRED BY APPLICABLE LAW, AND/OR REQUIRED BY ANY EXISTING CONTRACT OR AGREEMENT BINDING UPON SELLER AND/OR THE PROPERTY, INCLUDING, WITHOUT LIMITATION, ANY AGREEMENTS WITH THE PRIOR OWNER OF THE PROPERTY, ANY MORTGAGE INSURER OR ANY MORTGAGE BROKER, THEN SELLER MAY CANCEL THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT BY WRITTEN NOTICE TO THE OTHER PARTY AND THE ESCROW/CLOSING AGENT.

The buyer chooses the contractor and the lender vets the contractor: looks for the above stated information and also looks into whether there has been complaints against the lender.I was also told that a 3rd party vendor inspects the property and inspects the work to make certain the work is done properly before monies are distributed for the work completed.