Which isn't necessarily terrible except the corporate offices for the DG/FDs of the world only looked at the bottom line numbers, didn't care about the condition/quality of the workplace, and most stores are not in great shape. 

They always make sure to have line(s) of credit to get them through challenging periods.

Many community banks will give you credit for proforma rents.  

Developers will not be able to get these bonus building permits without providing such TDR credits.  

the note is converted or exchanged for credits?  

Renting it out while strategically leveraging the equity could be the best path forward.As @Jaycee Greene said, DSCR looks at your credit rather than DTI.

Contractors, unless you have a working relationship with them, normally do not want you bouncing ideas off them.Understand what their hourly rate is, have a discussion with them that you are okay with paying them an hourly rate if they walk the property with you and provide you a scope of work along with an explanation of what you can/can't get away with in regards to improvements.ask them if you go with them, if they can credit you the amount that you paid.Once you develop a working relationship with a few contractors, you can bounce ideas off them and expect quality responses.I do not invest in New York.Best of luck. 

This is the reason I quit being a moderator because of something that went mildly off the rails in the forums, and then it was completely censored because I responded to staff in the forums after they mentioned me.I think the moderators do an amazing job and should be given more pay or credit or anything.

You can't run a credit/criminal without the social.

The only other option I see is a short sale, if you don't need to purchase for a few years and don't mind a temporary credit hit to save the $60k.