It’s right out of the crazy scammer text book, and what’s so scary about it is that each step makes sense at the time.

There is a lot to understand, so pick up a good book. 

However if you are getting the buyer yourself and need an agent to draft paperwork and work as a "transaction broker" - I charge 1% or $3000, whichever is greater. 

2x House Hacker here in Los Angeles and a case study in the BP book, The House Hacking Strategy.1.

The analysis also reports that new multifamily development will “remain near the average recorded over the past five years”.Integra Realty Resources’ 2017 Commercial Real Estate Trends Report ranks Pittsburgh #2 on its Top Markets by Multifamily Transaction Volume Based on YoY Change.Pittsburgh’s rental vacancy rate has declined by 25% over the last five years.Pittsburgh is booming with developments (see reference #6), “there is no better place to be a developer right now than in Pittsburgh.

I am sure your aware of the antiquated lot of record rules already on the books in LA county that could stop a lot of rebuilding unless they change those laws or codes..

@Ankit Lodha, as others have pointed out, this sounds like a transaction you should be able to get done.

What is your source for 99% of transactions are above 2%?

Brandon Turner does a great job going over different strategies in his book "Invest in Real Estate with No (or little) Money Down".

I want to preface this by saying I'm an absolute newbie when it comes to real estate investing, but the more books and resources I consume, the more I find myself gravitating towards commercial real estate, specifically hotels!