Prices are low and they hit the bottom during the real estate crash.

If my target would be low income residents, are there any grants, tax credits, or funds available to help me with the conversion? 

Mortgage rates and PMLs are 8-12% plus points right now so the deal has to be a low enough entry. 

Some of the materials we choose and asked him to pick up (such as flooring) he replaced with low quality materials, I assume to keep more of our money for himself. 

I’ve already put down a $2,000 earnest deposit and paid for the inspection and appraisal.This event is unprecedented in the area, as the area is typically low in violence and considered very safe.

I own 4 two/three flats bought between 2013 and 2020 in Forest Park, Illinois, at low interest rates and prices in 200000's  They cash flow nicely and prices have increased a lot. 

Install low profile LED lights or wall sconces.If this is an investment property you need to be thinking about returns.

Should I price the land 2 times above market value and offer a low interest rateORPrice the land at current market and use a very high rate?

We look for good school systems, low crime and desirable neighborhoods.

So the choice of tenant would be key.On the flip side, reasons to hold: a very low mortgage rate; probably not the case.