It should be fairly easily to figure out your returns with different exist strategies.

You could sell it on a wraparound mortgageGoogle "Brian Gibbons wraparound mortgage"It is a type of owner financing where you keep the existing financing and wrap a brand-new mortgage around it@Brock Wiberg

I used to be on ForumsHawaii and we would talk business and real estate on that site, but it no longer exists.  

What I mean is, say you buy a strip that people are using everyday as an easement, if the easement exists its very likely it would be taken off, and if there is no easement, once you get the property and you try to put up walls or something the county is not going to have it.

Mold exists in the air naturally anywhere.

I told him that I did not believe his rights exceeded my existing tenants rights and they rented a unit with a yard for their children to play in that was listed as animal free. 

Here's the official description: Section 203(k) insurance enables homebuyers and homeowners to finance both the purchase (or refinancing) of a house and the cost of its rehabilitation through a single mortgage or to finance the rehabilitation of their existing home."

If there is an existing mortgage on the house, who is responsible for it?

It would be nice to find a way to do this, but I understand cost and liability always come into play with the business atmosphere we exist in today.  

When the existing tenant moved out there were some scratches in the hardwood floors, some light, some medium, and a possible gouge.