I see opportunity for a healthy NOI increase within the same time frame.

Anyway 4-6% interest only would give me a healthy cashflow, range of 33% to 24% COC with no value added, just maintaining.

“It’s going to be a languid search for buyers this season as they face the harshest, most competitive buying conditions yet.”Inventory between $200,000 and $350,000 remains low and it is nearly non-existent for homes under $200,000, while new listings above $300,000 remain healthy.

I am nervous and have fears of failure but only a healthy amount.

Between GCSU in Milledgeville, Geico and YKK in Macon, and Robins ALC in Warner Robins the sales and rental market(both single family rentals and multifamily) is very healthy.

What was interesting is he's in the same niche but he's playing different markets...and it wasn't just the local economy,  but local conditions like aggressive taxing authorities taking a bite out of what is healthy revenues.  

My partner and I will also have a healthy return..

You want to talk to your CPA first and foremost you don't want to get in a situation were your deemed a dealer and lose your cap gain tax advantages.that said a take down schedule like this is common in the industry.. although CA usually a million dollar property is not a lot.. vis a vi development ground.. and builder developers there usually stroke a check if needed.I suspect though if your going to sell it in phases.the land would be split into 3 phases and you deed out each phase as he pays if off.. but not individual lots that were your CPA can advise you on dealer status.its common though in these scnerios to have accerlated paymentso you have  3 phases  333k each... you sell first phase for  400k.. second phase for 400k last phase for 200k.. this way you get a premium if he fails to buy the rest of the dirtalso in your contract make SURE you demand that all work product engineering soils geo tech that type of stuff is once paid for your property as well.usually in vanilla real estate transaction on the west coast I don't recommend or see the need for a lawyer but in this case I would find a good real estate lawyer tell him these basic terms and things you need then let him prepare the contract.. hope that helps.. and assuming the dirt is in CA.. of course.

If you have clay soils it could have clogged it up and now its time to replace it. 

There was a lot of hard work, determination, and persistence in this project.Rehab Budget Row Labels Sum of Amount Details of Rehab Exterior Improvements $367,020 1) All Exterior Carpentry, Brick and Painting Work2) Tree Trimming3) Foundation repair work for 2 building4) French Drain to reduce soil movements HVACs $146,307 New HVACS replaced as needed Interior Unit Rehab $502,094 1) 5K Budget on average for a unit interior.2) Total 81 units remodeled including new painting, crown molding, new vinyl flooring, new stainless steel appliances, new fixtures, resurfaced countertops, new light fixtures, new ceiling fans Landscaping $30,000 1) Landscaping near Office area and Villa Lighting $6,932 3) Exterior porch lights and critical building lights Maintenance Tools $10,653 4) Maintenance tools such as HVACs Gauges Office/Laundry/Community $76,718 1) Office were renovated completely.