Location Richmond Virginia

In an area that houses are selling for well above $75k , but the only experience you have in real estate has been wholesaling and lease options.

Now you want to sell the property but convey the lease option too? 

@Reggie MaggardIf you can get copies of the current leases, or the terms of the leases, that would be good.

That will depend on whether the tenants have existing long term leases and what your state laws require for notice. 

@Jake Wernitznig buyers frequently don't factor in the costs of landscaping new construction.

Question: She asked me if we could terminate the existing lease so that other spouse can be released from it (spouse got their own place) and do a new month-to-month lease.

I use him for my reviewing my PSA's and drafting lease agreements.

This is important for the possibility of your loan getting approved but also a major factor in a seller's decision to accept an FHA financed offer over an investor who is paying cash or financing with a conventional or commercial loan.I would suggest taking a different approach with your FHA loan and looking for a property that you would want to live in for an extended period of time but also would cash flow if leased it after satisfying your FHA owner-occupancy time requirements. 

Once the renovations are completed and we get a tenant moved in, and lease signed the revenue will increase by approximately 37%, so I want to go back to the bank and get a new appraisal to determine a new value.