There is a certain health ratio for restaurants after food and labor costs.You need to figure out what you want the ground rent to be based on all the costs involved and how long you want to hold the property.Generally the longer the primary ground lease the more value it can have for resale unless the tenant want given a sweet heart deal with little to no rental increases.What tenants often want is FLEXIBILITY in termination clauses and short primary terms with options.

Fast forward: Servpro serviced and Insurance fixed the repairs, basically everything seems new in this place, but I'm still not sure how to feel about it.

This is extremely risky as the borrower if he is not paying his mortgage is most likely not paying his taxes or insurance on the property.

Basic details of the refinance I'm being offered:Interest: 4.5% up from 3.25%PMI: $0 down from $281Total Loan Value: $240,000Monthly payment including tax and insurance: $1,524 down from $1769I didn't catch the closing cost total, so I'll need to follow up on that.

He said he would take it on for a fee so I was happy to this portion of the project off my plate.1400 – Preliminary Short Platting Services2250 – Boundary and Topo1965 – Preliminary Short Plat Map7,865 – Ready for preliminary short plat submittal 350 – Tite Report, Mailings, etc.4950 – Spokane County Preliminary Short Plat Fees950 – Spokane county Regional Health (may not need until final SP)6,250.00 – Fees needed to submit preliminary short plat 2250 – Geotech (needed for design, held 2250 for construction inspection)11550 – Site Design (held 1000 out for construction observation)13,800.00 – Fees to develop design and construction drawings Remainder for inspection, certification, and final platting.

This adds up to $1,200 a year for a 6% annual return.A couple months ago I realized I had to sell the property for health reasons. 

I wanted to ask if anyone has thoughts on fighting to have your FEMA flood insurance lowered.

If you have your team (insurance, property manager, cpa, etc) in place you will inspire confidence in the lender. 

$109,900 sale price, $600 annual insurance, $1,464 annual taxes ( exact ), $21,980 down payment, $1,050 Est rent, 8% property mgnt ( exact ), $5,000 Est closing cost. 5.25% Interest rate on 30yr loan with factoring in 7% for vacancy and 7% for repairs you are looking at $161.00 in Net cash flow with a 7% ROI. 

 ( I took my test 30 years ago )  But a licensed contractor , is required by law to carry insurance .