This will keep everyone (including you) accountable to budgetary and timeframe expectations.Consider OpinionsJust because your contractor works for you, doesn’t mean he doesn’t have ideas on the best way to approach the project.

When to approach bank for getting investment mortgage?

I am an active investor approaching 100 units.

Is this a bad approach?

I will be approaching him to buy just the rights to the billboard.

This approach doesn't work for everybody, but it has worked well for us.Hope you figure out what works well to build trust for the two of you!

I am still looking to land my first deal, and i have recently approached a close friend that is looking to get a property via HML.  

When you see a vacant or derelict property, write down the address and spend some time scouring county records to find the owner and approach them.  

Asking Price is 556k        Appraised Value "Sales comparison approach" 598k         Built in 2004Decent location in the middle of townAll units currently rented "Units leased are 1 year leases" Unit A Leased Dec 2018 $775Unit B Leased Sept 1 2018 $700Unit C Leased Nov 2018 $900Unit D Same renter for 3 years, month to month current rent $850, they are upping the rent to $900 in Feb 2019Unit E Leased Oct 2018 $900Unit F same renter for 2 years, month to month current rent $850, they are upping the rent to $900 in Feb 2019Unit G Leased in April 7 2018- March 31, 2019 $700 Unit H same renter for 3 years, month to month current rent $675, they are upping rent to $725 in Feb 2019Total current income = $6,350   After rent increase next month income will be $6500Expenses - Tax $817- Est.

All of that would change how I approach him and try to negotiate with him to make it work.