My initial thoughts would be to secure a construction loan for the total rehab amount based on the entire property's ARV.

Just don't make that decision based on the first thing you hear from them.

Unless you totally threw all REI strategies out the window, which I highly doubt since you are getting into the weeds of Def Comp, you will blow that 457B out of the water in due time.

Yes we are all based in Austin. 

Based off experience can you provide some recommendations on if this is a good idea and how to address his rent in this situation?  

If I lease it, what is a fair CAM per sqft Landlord shall charge beside the base rent in Triple NNN lease?

The unit is a 2 bed 1 bath with a 20 gallon electric water heater. 

I feel I can negotiate the terms based on the condition of the property but should I be concerned about the existing wrap loan?

Looking to team up with contractors, agents, and anyone who's got their boots on the ground, especially since I'm not based in the U.S.Excited to learn from you all and see where we can collaborate!

Guests will constantly be complaining about the water temp with a 110.