@Rolanda Eldridge, You've perfectly described everyone's daily grind in real estate full time!

Its beverly hills california, 90210 zip code, the location is perfect for tourists.

I'm in a county where 3% EMD is typical, and one county away where I also frequently do deals, $1,000 is perfectly normal (3% would make some people wide-eyed for how large it is).

Yours is a perfect case. 

In a perfect world, my end game is owning the building without partners.Here's what I'm thinking so far:Private Source (most likely someone only interested in an ROI and doesn't want to be in the real estate business) agrees to fund the project, at the same time, giving me an option to purchase the building back at a specified point in the future (3-4 years) at a specified price (calculated by adding an annual 2% growth to the cost of construction).

It'll make for a perfectly sized pergola porch to the left of the entry roof, especially if you use the planter-in-front idea.

This is the perfect recipe for trouble. 

TenantCloud worked well for me but getting everything to an online version that works, Buildium seem to be a perfect choice for me.

The choice is between:A - Making a one time profit, in 2 months, of about $50k, or...B - assuming no more than $400/month in Cash flow, getting about $5k/year in cash flow...which means his option will take you 10 years of perfect cash flow to equal the immediate profit of flipping this....and, think of what you can do with $50k in profit (and the cash you recovered...your initial costs). 

Rigid and great floors that are not perfectly level.