I am great with the construction and development side but, the creative strategies to procure financing are always a challenge that I'm working hard to improve.

That might be standard practice, but I'm not sure.

If the existing property does not comply with all of the current zoning regulations (use, lot size, improvement size, off street parking, etc.) but is accepted by the local zoning authority, enter “Legal Non-Conforming” and provide a brief explanation.

Are you allowed to sublease - that's what you would be doing if you move out of your rent to own property and rent it to someone else.I would never make improvements/repairs on a property that I don't own.

You can speed your own estimating of values up a bit by running numbers through your pro forma using list prices available on the MLS for practice.

You've then over improved the lot for the area and would have to sell the house at a loss.

As a landlord about once a year I like to pay a visit to my tenantts and properties around the end of the year.Basically to talk to the tenant, sort of get some feedback, any issues, anything they like to see added or changed, give them a status report on pending improvement items, and while I am there I give a quick tour of the property and may change a few simple things.I have a running list of things for each property.

Though we don't require a specific seasoning, if the property is owned less than a year we will want to see cost (acquisition plus improvements) and we likely won't go more than 85%-90% of that unless there is a really compelling reason to do so.

Joe Gore No thats absolutely awful and I didn't even know that was a common practice.

That return improves when you buy below market value and that takes care of some of your concern about a market downturn.