It’s your first deal so maybe you won’t be motivated to do this but having the seller bring equity in form of the land, a developer/investor interested in the area and carries the construction financing, you really only bring them together (whatever that is worth to an investor) or some sort of partnership with the seller that outlines duties and recompense.

You might think that you are investing in people rather than only a property but it is people after all that bring the money to the table we are all trying to capture.

Why would you only bring mass sex offenders and shove them all in low income communities?

Thieves often steal meters to bring power to vacant property or to their own residence.

If you're unconfident of identifying them, bring in an engineer.One of the biggest issues you'll run into is fire blocking.

Should I order a new appraisal myself and bring it with?

Pretty exciting stuff and it may be a conversation you want to have with your commercial lender to see if you need to bring an "experience" partner into the mix.

Lastly, the 12 cap is not based off hard numbers, but I've found that it brings me closest to reaching a COC return of 15% that I require.

Maybe you bring the cash, they facilitate the deal...

Having an agreement from the buyer that anything you bring to them that they buy you get a fee, but most won't pay much if anything for on market properties anyway.