Do you want to cash flow, break even, just cover PITI, or simply just cover some of your mortgage to reduce monthly expenses and build equity in your first investment?

Maybe that first quarter is simply podcasts, books and attending meetups.

Sammie  Most of the time when a person says rent to own it really is simply a lease with an option to buy.

It should way longer than you need if you’re simply talking inspections/rent roll kind of things. 

@Hannah Costello, In this case you cannot simply renew a permit, if it has expired then you have to reapply for a zoning/use permit which can take some time and honestly is rarely worth the trouble.

I did not take into consideration the possibility of the city deeming it an unsafe structure and requiring an architect or engineer as I had assumed I would simply be restoring the original interior framework of the property through the typical permit application process.

In those cases, as mentioned, have investors tee'd up, financing confirmed that you qualify, and then you simply call and ask to meet for coffee. 

Keep  your contact info off of it, but this can help if you soon to be ex creates issues or simply refuses to assist. 

Very simply, yes.

@Kevin Turano, if the owner carry note is less than the total amount of gain you'll have you can also simply accept the note and do a partial exchange on the rest of the sale.