The tenant has been in for 12 months, and pays rent on time (though utilities are late every single month), and their option to purchase expires in 12 more months.  

He suggested one called Tenants In Common where you could keep control at any percentage of ownership you had. 

Utilities location, lot topography and water features, level of finishes.

I have come slightly close to getting out all of my initial investment in the short term but I have not gotten out all of my investment (purchase + rehab) out due to 1) typically we do not get 80% LTV (we typically get 70% LTV) 2) the refi appraisals come in below market value (common issue in san Diego).Therefore I have yet to achieve the infinite return in the short term. 

That way you can still utilize it without taking the penalty hit.

Also, I'm at a disadvantage not knowing the area, the costs associated with utilities and maintenance, upgrades, etc, and the good and bad areas of town.

Even if I don't utilize the BRRRR method or force appreciation it still looks like a better investment.

My goal is to contribute at least once per day to a forum and have quickly found success in that; I have gotten direct messages from fellow BP members who have found commonality from the few forums I have contributed to, so my network is already growing!

The 60% number came from @Joel Owens as common if the owner pays utilities. 

I'm looking to find some ideas for utilizing about 6000SF of commercial land on a busy commercial street in Portland (near the airport).