@Thomas Giganti In my opinion the first renter will set the tone of the overall nature of the renters involved in the property.

Hello Kayla,The rate for a ground lease depends greatly on how dense an area you are in and the availability of alternative locations. $800-$1,200 per month would be a standard range based on my experience for a rural-moderately developed area. 7% annual escalation on the other hand is more than twice what I would have expected, are you sure it isn't per Term? 

You agreed to the 2 room's so now your stuck. but if you don't like what they chose get some alternate shades and present those.Never have I let a tenant paint for all of the above reasons that have been given.

If you were to personally borrow from your 401k, you could not combine that money with an IRA on a project as that would be self-dealing.I'm not sure where/how you setup your IRA, but if the firm you are working with cannot easily navigate you through what I have described above (which unfortunately, may be the case), then you might want to look for an alternative provider.

The alternative as mentioned above, would be a Deed In Lieu, if the borrower is willing.  

I think it's a bubble or at least a sellers market.Would you advise to  shut up, raise more cash and be patient or should I look at alternatives?

Alternatively, if you spend too much on a property that is considered as an A-class property, it may be tough to find a buyer.

Doing this strategy on your own properties is much safer and a profitable alternative to the standard rental.

I suppose I would need to get all the information on how to be a landlord and deal with tenants, things of that nature before I jump into buying.

A commercial lender will lend to a corporation, under commercial loan rates and terms.A residential lender will lend to a natural human person, under residential loan rates and terms.Residential loans are where you find 30 year fixed, and low, interest rates.