So, I had to get the owner and tenant agree that it actually took place. 2) Meeting Tenants - I would say not needed, but certainly when their lease is up, you want to re-screen the using your screening criteria for income, background, etc... 3) Review the leases and understand expirations and lease renewal terms if any.

Short term acquisition and renovation financing for BRRRR and flips.

To your original point nothing is every simple..  

I initially planned to invest in Lancaster but was priced out and needed cashflow in the short term...What are your concerns?

Of course, it ultimately depends on your available funds, short/long-term goals, etc. 

With a focus on quality properties and favorable terms, I aim to build a strong portfolio and maximize returns in this thriving market.

Pay the termination fee or stick with the original agreement.On the other hand, you may consider lowering your rate and encouraging him to stay.

Long term I anticipate construction costs will generally soften as the high-rate environment continues and stifles development.

Do you want to try to make some cash flow or secure an asset for the long term so that maybe you can get some friends to rent rooms from you?

If the interest charged is less, they charge income taxes on 4.9% as imputed (I believe that's the term)2.