Hello,I wanted to know from experienced investors how do you develop a solid offer letter without the use of a real estate agent?

Ideally the space needs to be reconfigured to make better use of it as well. 

For example, the profit split on a ground-up development deal would be much different than what you’d expect to see on a plain-vanilla cash flow play. 

You ideally want some contingency padding in there as well (10%?

If you haven't already done so I would advise to develop a plan.

SUBJECT TO existing mortgage of $125,000CASH TO SELLER $10,000WILL REFI BEFORE TWO YEARS ONCE PROPERTY IS STABILIZED (I deal with local community banks and will do a commercial in my LLC to cash out at 70% LTV to recoup back some of my initial investment?)

Most people that I deal with don't want to share a house with strangers. 

As for "bleeding cash" -- we're certainly not the first startup to be unprofitable for a number of years during its development and/or scaling phases, nor will we be the last.

@Marcus Auerbach - thank you very much for the suggestion I will definitely reach out as that type of guidance would be ideal.

I've blogged about how much I hate dealing with banks, love the owner financing option, but I'm learning the benefits of really developing relationships with bankers, especially as you pursue additional deals.