@John Aaron I'm guessing that you might be using the 2-T (NC standard contract), which includes default language that the contract cannot be assigned.

(I've included what I use below).

Have bought hundreds of property at auctions, including the first property I bought (detailed in Bigger Pockets Podcast #82) and the very first thing is you have to know value. 

U want your parents to talk to their CPA FIRST.. if they go the development route they are now ( depending on the amount of units) creating inventory.. which will be taxed at ordinary income rates ( very HIGH)if they just sell they can 1031  and move on to something else.. many times when you run the math consider the risks of a partnership.. the sale of the land is far better than thinking your going to make some profit.. 

Which would require you bringing ~$25k to close. your plan seems smart and based in the reality of our current economic conditions.if you would like additional info about what's available in my midwest market, including analysis of possible acquisitions, reach out to me.

A quick eye ball measurement tells me the total counter SF including the backsplash is no more than 24 ft of material.

Advani emphasizes the importance of market research, including analyzing historical data and predicting future trends, as a foundation for any investment decision.The Role of Property ManagementEffective property management is key to maintaining and increasing the value of real estate investments.

We would be adding an additional office in the front portion and creating more office space for trainings and creative workspace with a supported work program for the community in the other portion.

It probably doesn't include income from the 5th or 6th unit if it's supposed to be a loan for 4 units right?

Say a 550,000 loan with 25% down at 10% interest on 15 yr vs 30 yr. 15 yr monthly payment-- $4,40030 yr monthly payment -- $3,600Does not include property tax