You can use it as a down payment or as option consideration. 

All good points I will definitely take the into consideration thank you

Drainage is a consideration.

I will take that into consideration.

Also, take into consideration that SFR foreclosures are in abundance, and cheap. 

. , I rarely let buyers (borrowers) leave a closing table with more than a few thousand dollars (maybe $10K) of my funds and will only do that if they are buying considerably under market value, are quite experienced, and/or we have done multiple successful transactions in the past.

The problem with price per square foot is that it does take in to consideration number of bed/bath, upgrades, etc.

And, taking into consideration that they’ve already made a killing throughout the years with low rent costs to their bottom line, I don’t think raising rents a little at a time is going to scare them away.

If so that just seems a little strange that you would pay for a release.BE IT KNOWN, that _______________, (hereinafter referred to as "Releasor"), for and in consideration of the sum of ________________ ($_________) Dollars, and other valuable consideration received from or on behalf of ________________, (hereinafter referred to as "Releasee"), the receipt of which is hereby acknowledged, does hereby remise, release, acquit, satisfy, and forever discharge the said Releasee, of and from all manner of actions, causes of action, suits, debts, covenants, contracts, controversies, agreements, promises, claims and demands whatsoever, which said Releasor ever had, now has, or which any personal representative, successor, heir or assign of said Releasor, hereafter can, shall or may have, against said Releasee, by reason of any matter, cause or thing whatsoever, from the beginning of time to the date of this instrument.

If they think it's a 3 BR, the assessment is going to go up considerably and hence your taxes as well.