Did your lender try to do rapid scoring? 

I have been presented with a development opportunity and the town is offering a TIF (Tax Increment Financing).

This area of Harlem is right by the top of Central Park, 2 separate subway stops, and is gentrifying rapidly. 

It's also good to note that there was no transferred security deposit so I had included that into the rental agreement, which is to be paid in increments starting March 1st, and due in full by June 1st.

I just bought a rental in Grand Rapids (3 hours west of Detroit) earlier this year and I'm easily getting a 30% cash-on-cash return.

First, if market values fall relatively rapidly AND you have to refinance the debt (because you have a balloon note, for example), then you can be in trouble if you multiply this issue across many properties.

If you're anticipating a rapidly rising market this isn't a big deal (bank will get a new appraisal).

Because of the drought across the U.S. many crops and cattle were affected.The shortages happened months ago but reserve supplies have been worked through.Now as demand is the same but with limited supply certain items beef,corn,etc. is going to really rise.It has been going up in small increments but will go up in bigger chunks soon.Smart restaurants are looking at what is not rising or is minimal in increase and trying to create flavor dishes so that their price margins don't go up and the profit shrinks.They still might use some of the products increasing in price but with less quantity in the dish to cut costs.This is why for instance if I buy a restaurant business I would adjust down the stated profit model to compensate for the coming higher food costs unless I knew I had a fixed food contract and the supplier could not go up on me.My background before triple net investing and apartments was commercial land development so I find your assembling of parcels interesting and would like to hear more about it and your plans.

Same with your unfinished basement.If a $40k basement finish yields $1400 rent....that increment sounds like 3.5% of cost....a home run!

As a consumer you would call this 2.6 discount points, a lender would call it 260 basis points.2.6% / 0.5 discount points = 5.33 increments of 0.125% buydown to rate (or in this case buy "up" to a higher rate with 260 basis points of closing costs covered by the rate).