But it could be 4 years before we see anything and of course the project may not get approved as is and could be much less density in the end.

In theory if it's a fit then you can grow with them.

I am reading Brandon Turner’s book and it is a great book but, trying to figure out what course to take is a bit intimidating.  

i'm getting my arv based on similar finished properties based on comps i found on zillow and redfin. figured with the repairs/upgrades, the arv would be $270k. current listed price is $235k and overestimating on $35k in repairs, which will be made over the course of the year while i live there.the real estate agent gave me some comps to compare, but it was similar to the comps i pulled from redfin.

And of course, this is anywhere from 3-5% of the total sale price we agree on with the new buyer.

Sanded and restained all hardwoods, gutted small powder room, remodeled bathroom (besides shower), and ripped out kitchen vinyl flooring with leftover hardwood that i had from my brothers house, redid countertops, and of course a new coat of paint in every room including ceilings.  

What would be the legal course of action?

And of course he hasn’t given me a number yet but the numbers have to work out cash flowing to begin with.Thanks!

A lease is something you will likely always be changing and adjusting as you see fit.

I bet he can find something that will be a good fit for you.