Do you just show up, say you are the lender, credit bid, and they do not make you pay?

Maybe 10-20% correction.Assuming 70% correction on ETFs, $250K available there will be reduced to 100K.

He stated that all utilities "are included in the rent" which means he pays the utilities, correct?

Assuming your valuation is correct, you would need to purchase it at 192K if you want to get your money bank.

Please correct me if I am wrong. 

I am looking at developing a few industrial properties and want to be able to base my underwriting correctly if I should include the management fee in the CAMs once the property is up an running.  

If you plan correctly, by then they will thank you, daily, for making their life the most it can be.

I am looking at developing a few industrial properties and want to be able to base my underwriting correctly if I should include the property management fee in the CAMs once the property is up an running.  

@Grant GriffithsI'd keep looking into that lease option (contract sell) type of stuff.On the feedback: the possible correctable ones I see there are:Plant a cheap row of young plants that way at least when the concern of backing to an apartment comes up, you can play up the long term that there will be a privacy hedgerow.The other two concerns I doubt you can do much about at this point.Good luck.  

However, I am not sure if this is correct, as another website I found said 35 sqft per child.