The lender is on board with that plan.

The good news is that you're only looking for 60% LTV.The bad news is that you want cash out (many lenders aren't doing these at all) and you have commercial tenants, which may be the hardest hit by COVID-19.If you can get a lender on board, my guess is that your rate will be somewhere around 5%.

- I would absolutely require you to have the lease and payment history before I could agree to bring this property on board.

Trying to structure a complicated deal and get more than one heir on board will probably be about impossible. 

As far as selling the idea to a landlord, if you got a smart landlord, and you explained that your plan was to stay for many years, renting rooms to law students only, I don't see it as impossible to find a landlord to get on board with the idea. 

Unless the are overwhelmingly on board with your directives (new rental rates, new rules, new lease, etc) my advice is move on.

I finally got in touch with the owner and he was on board for having it taken down.

If I can show her that the system works perhaps then she would be on board for the next one.  

If you find a resident who has 3-4 years of training left, get them on board and treat them well.

This just started to be announced Thursday/Friday and we feel more companies will jump on board going g forward.The key is to call the billing department of your particular insurance carrier and ask if there are options.