And if their price seems high on other projects going forward, it's always good to compete the bid so they don't get too comfortable!

That leaves off-market deals, which seem to have the most opportunity to find deals that actually make sense. 

You do seem to be confused about the business that sponsors the plan and the investment activities of the plan.  

Seems like a silly thing to do, right?

In our suburb markets of the Twin Cities, we seem to have hit a slow patch.

Multi-Family with NO Certificate of OccupancyI have discovered I am in a deal to purchase a houseand units with seemingly NO Certificate of Occupancy from the City.It appears these are supposed to be applied for by the original contractor,however the city has NO record.These units have been renting since 1951,does anyone have experience in this area ?

The 1st floor condo is currently utilized as a commercial office space and the layout is set-up without a full bath, proper kitchen, etc, but just right for a smaller office.The other 2 units are regular condos for families.I'm trying to figure out what option I am better off with:Option 1: Leaving the first floor unit condo as a commercial space, renovating it and trying to find an office to occupy it.orOption 2: Invest in doing a full kitchen and a full bath to make it a proper Tenant rental.Option 1 seems like it will be more economical but there is a risk it will take longer to find an office to rent the space vs a tenant, and the loss I take on finding that commercial renter may offset what it would cost to re-do the whole unit by investing in a full bath, kitchen, etc.I'm also wondering whether I'm better off having all 3 units be tenant-rental condos if it makes it easier to sell down the road or should I just consider keeping 1st unit as a commercial space and take the chance?

You seem fairly happy with your career and risk averse so nothing wrong with your plan.

It seems some of these buyers are paying for the privilege of flipping a house.

I owned some bungelows in California... whew... glad that's over, but Texas seems more reasonable.