Only an attorney can represent another party in legal matters.Appears you are going into DIY management without doing your full due diligence and believing the first piece of advice you receive without challenging it.

Of course, that part is important, but the service you get from your lender is so much more important than the fees.

And you can remind them of that and that most likely the insurance would deny the claim because the wrong party purchased it.

I believe the hard part is to get approval by the town for the works.

That being said the beautiful part about owner financing is building a situation that best serves both parties.

I would personally send him a few options but do it in a way that allows you to own the property with terms that work for both parties.

You cannot third-party manage rentals without a real estate brokers license in NY.

@Ryan Olsen We always underwrite our projects in their by-right scenario, and if we go outside of that we would use 3rd party planners that are aware of everything happening in that current market.

I'm curious if this seems fair to both parties.  

The hardest part is getting in when you have no track record.I would love to hear any feedback on your experiences with hard money lenders that have an easy entry point and are good to work with, especially for newbies.I may be new, but I'm serious about my financial future.