This is such a low payment that you could put the rest of that downpayment into US treasury bond and it will cover the PMI expense and more. 

Not only do the banks require that the owners/ buyers complete these lengthy envrionmental surveys, but I want to say that CAL EPA also requires them anytime a gas station changes hands.

Do I need to be bonded/insured if I require the contractors to be bonded/insured?

Forgive the lengthy post.

If you can’t do what you want you will have to go through a lengthy rezoning process. 

i-bonds (a savings bond) get a lot of press when inflation is flying and are about the only tool that will approximate inflation (https://www.treasurydirect.gov...), but that's not guaranteed. 

The buildings need interior renovations and the seller has approximately 6 empty units out of 20 and the rents are all below Market so this would be a value add projectOriginally, they wanted to seller Finance doing a deed of trust and promissory note but now they want to seller finance doing an "agreement for sale" or "contract for deed" because they said they are worried about foreclosure. they don't want to go through a Lengthy foreclosure process and they just want to get their properties back easily if i was to default.

Thank you all for reading my rambling, lengthy post!

It was a little bachelor apartment in a 30 unit complex, according to the add it was currently rented and the tenant was willing to stay on and the ad proudly proclaimed: "Rental covers monthly bond!"

@Bo Bond thanks for the info.