After a long conversation I sense the seller may have some mounting financial pressures that make him desperate to leverage his property as a solution, whether that is this development idea or even just selling his property.

Programming already created by architect partner. 3) Development of a full city block (almost 3 acres) into student housing or high-end office for adjacent user.Parameters / Tabs to include: 1) Summary or Snapshot page (format included in link below)Major Metro Snapshots2) Inputs page for assumptions 3) Cash Flows that flow into summary page with development or conversion (downtime / carry costs) i.e.

However, based on the conversation he didn't actually say anything that made me confident that he knows what he's doing.

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Wonderful way to do a conversion and offer Affordable, new, apartments to rent or buy. 

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Most banks don't have problem with this conversion but it is good to check with your lender and also it is up to you to figure out if your home is suitable for renting in terms of return.