You need to buy with cash, or maybe hard money, in order to take down a deal where you don't have control.

Even better though, I now all of a sudden have $150k in equity in this thing and my entrepreneurial mind starts spinning out of control.

We go in the deal75-25 but I would be in control.

So, with the GOE and the capital that I had saved of my own from hustles I've done to controlling my budget and being frugal, I still did not have enough for a down payment I felt was adequate to give me a mortgage I was comfortable with monthly.

If the buyer wants to occupy the property, it is written in SB 608(OR statewide rent control bill) that if the buyer intends to occupy and the tenant has lived in less 12 months, would require a 30 days notice. 

When they moved out, we ended up applying most of their security deposit to getting the yard back into good shape, but that easily could have turned out as an extra expense for us.So, there are definitely things to consider before putting the tenant in control (as @John Warren also noted). 

It's out of control.

De-winterized, new paint, new appliances, new carpet.

It is a solid approach and you control a lot of the variables.

Rent - rents could command a higher premium because the unit is brand newRefinance - like usualRepeat - The reason why I ask this question is because to me, if I build on a lot then I have complete control over whether I make it a single door or more.