(i.e. their current lease is set to expire July 31, 2020 and I would offer a renewal from August 1, 2020 to July 31, 2021.2) Aside from a reduction in supply in the area and the unlikely potential for a sudden increase in average rental rates in the neighborhood, are there any drawbacks to an early renewal proposal?

There is lots on info related to the strategies you've proposed (on this website and more).

@Eric Weber  Thousands of folks have done what you propose.  

Can you please help me understand why its not proposed like this?

Anyone interested in this topic should weigh in on Raleigh's proposed new ordinance.

@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.