It would be as a loan, and I wouldn’t have equity in his deal. 

Pick a well known landlord tenant attorney in the area, have them review and edit your lease accordingly, and tell you how to handle this situation properly.At the end of my lease I have a clause that states if one clause in the lease is found to be invalid or unenforceable, it doesn’t effect the rest of the lease.

Kyierris Miller here, I hope you are doing well.

This can be a 30+ day process.  

The other key to this property is it has city water and sewer at the lot lines which would obviously be cheaper than well and septic + has electrical just next door. 

When you have control of your budget, money saved, and enough knowledge to be dangerous, take action!

Holding up really well and everyone thinks they are great.

The lease/option as described will be 2 separate documents; the lease can be a standard rental agreement. 

I always see people posting to stay away from D/F neighborhoods, but I don't ever see how exactly to determine that - I've read a breakdown of what each class entails, I guess I'm just looking for a tool that tells me that instead of trying to figure it out on my own in an area that is not well known to me. 

I wanted to build because the area I’m looking is pretty competitive with STR’s and it has to be something unique and attractive and I feel this will be easier to accomplish building new.