Or, you can do what I hate, you can construct a pro-forma based on what the property *could* rent for, arrive at a fictional NOI, and use that juiced NOI estimate (along with your cap-rate) to come up with a value that looks great on a listing. 

Interest on the note is 3.25% ( WSJ PR) for 2 yrs and I pre negotiated renewals for 2 yrs after the 1st term.I would be happy to document everything on the project from the purchase thru completion if there is interest.I should add 2 different companies owned this before me and went belly up. 

the bottom of a closet door chewed into splinters by another dog,  6. some idiot tenants who decided the crawlspace under the house made an excellent dog house (nothing like scooping dog poop out on your belly) and 7. much of the metal around an HVAC unit rusted out early by a male dog marking his territory there.Gail

(Because my debt service is cheaper than my cap rate, the leverage created by my 75% financing should juice my return, but only slightly so let's ignore this.)  

I am from Lancaster, just down the road.I love that you are making a push to do belly to belly networking, in this digital age it SADLY becoming a dying art... that just means its ALL THE MORE powerful to those of us that are good at it.

I place R-19 batts underneath then covered by "aluminized belly-wrap." 

Is the juice worth the squeeze?

Having a mortgage discharged is a cardinal sin to a mortgage lender, your best course of action is to belly up and continue paying that note obligation.

Be sure the builder didn't go belly-up.

When the deal goes belly up, he with fight you to keep the house.