It all depends on the scale of the project, how many contractors you know, how fast they can get you a proposal and how long you plan to remain in the preconstruction phase.

You keep rents going up slightly to handle inflation but you are not "rent shocking" your tenants.

The remaining $500 would be a down payment for the land itself.

PILE UP CASH IN INFLATION PROTECTED EASILY LIQUIDATED ASSETS if you want to have the time of your life as an investor in a few years.

There is no allowance in the rule which allows a new owner to do anything less than honor entire remaining lease term.

What is the equity based on your sale price and the remaining amount due under that contract?

My plan is/was to purchase a tri plex or quad plex and occupy one unit and rent out the remaining units enough to live rent free, cover expenses , and still have a positive cash flow.I plan on financing this purchase with an fha loan which to my knowledge only requires a 3.5 % down payment.

$500/m going toward remaining balance.- wanted the option to do some renovation during lease period.the owner has countered with:- $70,000 purchase price (full list price)- $5000 non refundable deposit- $700/m for 6 months and 3 month extension

In the end I remained patient, stuck to my numbers, and eventually met my targets on my terms.

They're more about cash flow investing than flips and even though alot of their educational stuff is outdated now, their principals remain the same and they always advocate operating under updated information.