I have never done a commercial lease transaction before, and am therefore reaching out to your brains and knowledge.

It is a harder product to find but try using the verbiage of "LINE OF CREDIT" on an investment property rather than HELOC. 

When real estate is distributed from an IRA to the IRA account holder, the property is assigned in the IRA holder's name, but before that can be done, the IRA custodian will need to know the fair market value (FMV) of the property so that the correct amount of taxes is paid on the distribution.Unfortunately the RA participant cannot purchase the property from the IRA as this would result in a prohibited transaction.

You should be able to product rent rolls for the last 2-5 years documenting your vacancy rate.

Lastly, if the transaction goes through with airbnb or vrbo, do they charge all the rentals including putting a security deposit on hold and then issue you the money AFTER the renter checks out? 

Can I use an escrow company to complete the transaction. 

If you have guidance on how to best start a project like this and what I would be asking the surveyor and engineering report request would look like (I'm unclear on what to even ask for).Thank again and If we can work together through this process I would certainly feel the obligation to ensure that you were the sellers agent for finished products.

You might have less than a day before needing to make a buying decision so having inspection checklists on hand when you see the property and other tools/spreadsheets will help boost your confidence in your decision.Most investors around here appear to be using to be using Alamo Title for title/closing.

Buying REO, is like buying any open market transaction.

His current rent would double with the finished space.I completely get that this is a business transaction and the smart thing to do would be to remove him to be able to finish the basements and get rent.