PM looking to not rent to him, so choose what he thought was a way to eliminate him by creating a financial barrier. 

The flooring damage was sustained during this past winter season with rain/snow.

Yes to pets just creates more headaches.  

The 1% rule was created when mortgage interest rates were in the double digits, no need to fuss on it now, there are lots more numbers to consider.

(i.e. create a new LLC whereby purchaser takes % interest and seller remains % owner and then the seller essentially diminishes their interest over a certain period)?

I've found this creates more urgency for serious applicants. 

And thank you in advance for any advice you may have.I am working on acquiring my first investment property (hopefully a fourplex) and want to have money and financing in place for when I can find/create a good deal.

Looks like they've finished digging out to create a basement; and are now extending the house in the back.  

I would also recommend creating a list of goals... 3 months, 6 months, 1 year, 3 years, 5 years, 10 years, and 20 years.

General OverviewAn RE Investment firm ("Firm") creates private mortgages with individual home buyers.