PA is a bit difficult or has more "rules" on lease options which also might be why the agent/lender involved are not thrilled about it -  what about a contract for deed or wrap mortgage on their existing mortgage for 9 months ?  

I am currently researching the history of our home/property and never knew this site existed. 

Would a simple JVA would suffice at this early point or SEC regulations would make this more complicated, and expensive?

If they are invited guests of an existing tenant it gets a little more complicated.

First check your state landlord tenant regulations.

You open a SDIRA, transfer your existing SEP account to a self-directed IRA (can become traditional IRA or stay as a SEP) then lend the agreed amount out of your account to your friend the builder.

According to the CCA rules and regulations for the city of Cleveland:5:01.I "Any person receiving rental income from any property must file a return whether or not there is any tax due."

Is there an existing contract in place?

Then you can convert an existing structure or add a new Accessory dwelling unit on the property which can be rented for additional cash.All the choices have their pros and cons.

Kayla,Cesspools will cease to exist by 2050.