In its entirety my own created 30 day notice is 3 sentences in the body.  

@Kyle Simmons Well, tell us what you know about Ratios, Title, Escrow, Underwriting, Processing, VOE, VOM, Credit Reports, Appraisals, Warranty Deeds, Clearing Title, Dodd-Frank, SEC Rules, Amortization Schedules, Points, Interest Rates, Foreclosing, Evicting,  Co-Mingling of funds, Risk Management, Funding, Community Property, Vesting Title, Lis Pendens, Tenants in the Entirety, Liens, Judgments, Quit Claim Deeds, Bankruptcy & Quiet Title Actions to start off with and I will help you with the other things you need to know.

Question #1 was the entirety behind my initial post about the fact that I was able to retire in under 7 years. 

Legally, The Deed of Trust (Mortgage) states you cannot sell the property with out the loan being assumed (if permitted on some FHA loans) OR paid in It's entirety.

The reason IRR is best is because it looks at an investment in its entirety (i.e. it looks at cash inflows and outflows over the entire life of the investment).

. - I have to contribute 5-15% of the DP- per his "demands," I need to create a model that shows a refi in X years where his money can be pulled out and my wife and I assume the investment in its entirety.

You can sell that property and do an exchange on the entirety but taking boot out (taxable cash) equal to 15/24ths of the gain allocated to the side you lived in.  

Hey @Derek OkahashiIt is difficult to say for certain without knowing the entirety of their circumstances, but from what I do know it would seem that a 1031 would be the best route for them.Taking that equity and placing it in something a bit more cash-flow-friendly would likely yield far better COC and ROE.

So, if you have $1,000,000 liquid and that constitutes the entirety of your net worth, a lender will give you no more than $1,000,000 in a commercial mortgage.You cannot buy a $4,000,000 property with your $1,000,000 and 75% LTV.  

Labor and materials for construction cost more in NY than many other parts of the country and you have to think about whether this property can be properly renovated in its entirety for only $100,000.