You are buying a property that if done by a quality provider has a very solid rehab done, essentially a new home in most aspects. 

I recently wrote another forum preceding this, essentially introducing myself.

.), or that they will just build a wall around our property and finish converting and developing the land around us into commercial entities.We said we were fine with them building around us (with the bet that we will be bought out at our price eventually (possibly even higher due to the fact that pretty much everything around us will be commercial property and generating revenue (restaurants/mall/stores/etc...))).Now I'm asking, if you were in our shoes, what would your game plan be?

Under that state, enter the costs, either as a % of revenue or a $ amount, that correspond to that state. 

Essentially they tell us that, " yes it made $2k last month but since there is no signed lease nobody knows what it'll do in the future". 

Essentially take your actual loan payment and annualize it then divide by the principal.

Now, the original owner of the property has what is essentially a second mortgage, So, he will have the option to foreclose from second position if you stop paying him as well.

I thought value in commercial properties and valuations by banks or buyers was based on the numbers...what the property generates in revenue, as opposed to the usual criteria for SFDU's by banks.  

This could potentially increase bank revenue by a great deal.

Essentially the most flexible 203k loan I've ever heard of.