@Michael Le A proforma analysis is a set of calculations that projects the financial return that a proposed real estate development is likely to create. ...

Just like tenants go into freak out mode when we propose a sizable rent bump because their budget can't hack it, the same happens with REI's. 

In those states that have not legislated against "self-help evictions," the courts have ruled repeatedly against the landlords. 

Yes it was introduced as another bill that was shut down by Realtor Lobbyist and then they slipped several of the previously proposed items into SB 151 last minute and it was passed.

the property is long, very slightly wider out back than at the street line. without having too much to base this on i assume a 12-16 unit building could fit, if it can be 3-4 stories at least. what if i structure a deal for my llc to buy the property from him, i'll manage/coordinate the entire process and reach out to some people i know to source funding, or just propose the project to someone with experience who can help with the process.i would greatly appreciate any input, ideas, strategies etc.

I will not be insulted but you will be a lot poorer.What you propose is not legal and it is not even a touch gray at all.  

The overall cost of building and land exceeded the proposed market value of the property. 2-4 units is a different spectrum as it will be valued by comparables and not so income driven.At the end of the day you need to ask yourself if its gonna cost you X to complete.

Was not clear on the kind of deal you propose for your JV.

I’m in the process of submitting his will for probate where I Am the proposed executor and in doing so examined his tax returns for confirmation because no tenant has a lease.

Especially for newbies, that is a tough challenge.I propose a variant of item #1.