There was some push back from the appraiser, who wanted to disagree with the Head of Planning and Zoning about plats and zoning issues.

Now from what I remember the equation goes as follows, Cash Flow / (1+ Discount Rate) ^ Time.

After I made reference about missing rent, they then reached out to the tenant for the rent plus late fees.They did not begin the eviction process immediately because the tenant that they would bring the rent plus late fees the following week.

Thanks @David CruiceA follow-up question when partnering with a developer is, what are reasonable terms?

Well maybe not so fast.While it does not make sense to me, I provide for your reading enjoyment the following links /  Court Case;https://www.gpo.gov/fdsys/pkg/USCOURTS-ohnd-1_08-c...andhttps://www.casemine.com/judgement/us/5914fbf2add7...This property was recently listed and so I was doing some research, ran across the case and learned a thing or three.The synopsis is (not a lawyer so maybe I haven't read it correctly) and leaving a side the fraud of one party (which he eventually was found guilty of), the eventual purchaser, purchased in good faith and was declared the 'owner' with good title.

If the borrower will have seven to ten financed properties, the mortgage loan must have a minimum representative credit score of 720; all other standard eligibility policies apply.There are plenty of banks and lenders out there that will follow Fannie exactly so you shouldn't have an issue going up to ten investment properties.

If your goal is to keep the existing renters and rent out individual rooms on AirBnb, then you would be required to follow some additional rules.   

@Brad SchaeppiJust a follow up: the contract terms were difficult.

is there any room to push it up a bit? 

You will need to follow up regularly to insure they are staying on track.Back in the old days of rent to own the upside for sellers was in renters failing to buy allowing the seller to rinse and repeat several times keeping the DP and principal each time.