I searched some other posts but it seems like I just need to get the details of the lease? I found a seller in Maine who has a Single family home on a 7,405 sq ft lot, half the lot is empty from where an older house w...

It takes a super heavy rain storm for the signal to be effected.

As mentioned, an acq fee is customary in many syndications 1-2%, but this is on multimillion dollar purchase price, and that fee is typically associated with a lot of travel cost, due diligence work, etc and can be one or more persons full time salary, i.e. life effecting.  2% on a $300k deal is $6k. 

It will have an effect on the economy for sure.

I assume its because the lender wants some assurance to limit risk to what is effectively their investment too, right?

@Michael Vu - try this exercise to change your viewpoint on the deal. 

If rent is due on April 1 notify him now for a rent increase effective May 1. 

It's amazing the negative effects rent control has had on the housing stock in areas it's in effect.

Just because the real estate industry needed some means by which to justify the price for which a property was/is being offered does not  have any effect on the "value" of the the property...before/after/during a renovation, a sale, or a fire.   

I was wondering what effect, if any, this project will have on properties in the area.