Every area is going to be unique.

Don't be the guy that backs out of deals or you will get no deals.Love the unique take you've offered - It's different than most others so far. 

This is a bit unique because NJ does not require that these items be provided to a tenant, and also even though it was on their original lease they have not had a lease in years.

Here's my question: I don't know how I should structure my financing for my somewhat unique situation- I have a HELOC on my primary residence (equating to $109k, = ~40% of home value); and I have $90K available in cash.

Capex and repairs should be 15% combined.

I was a bit disappointed because 1) the house was the cheapest in the neighborhood 2) was uniquely ready for a JADU if/when owner occupancy requirement is removed 3) we believe we could build an ADU.  

Bailey III, for the purposes of initial underwriting I think 15% combined for repairs and CapEx is good.

The cash invested of 2.8 was LP investors and GP investors combined to acquire the asset.Asking price was just over $11,000,000What made you interested in investing in this type of deal?

The cash invested of 2.8 was LP investors and GP investors combined to acquire the asset.Asking price was just over $11,000,000

If you combine all that, would it not swing the decicion in favor of IL?