The above are made up numbers that will vary based on your market and local regulations but you get the idea. 

What made you interested in investing in this type of deal?

Since you don't have a copy of the lease, just tease them with, I understand your rent is X (made up #) and I won't raise that until your lease ends on X date. 

He took advance saying that he needs to order the material.

With a traditional IRA/401(k) the contributions are made with pre-taxed funds. 

That would have made it slightly less steep, but access would have been pretty easy.

But at the same time, I think of the old adage "Fortune favors the bold" and believe that in order to achieve wealth/goals you need to take some risk. 

I just included the rehab estimate portion of the spreadsheet as one example of how to do it -- you can generate those values any way you want, and don't need to use the rest of that spreadsheet at all.I never intended for anyone to get any value out of the specific dollar values I have in those cells...they are essentially made up...

High debt levels relative to equity, combined with looming loan maturities and expiring interest rate caps, have made refinancing a daunting task for many property owners.

What made you interested in investing in this type of deal?