Absolutely need everyone on leases which will include detailed rules and regulations.

I'll include a few below.

Have you ordered a payoff to see if 152K is truly what is owed including late fee's, interest, foreclosure fee's, etc?

Just so you know, the basic requirements for the property include income of 3x the rent, good previous landlord recommendations and a favorable background and credit report.

They included 15 months or so worth both taxes and insurance.Your monthly payment includes principal, interest, taxes and insurance.6% is a little higher than typical loan, but it is difficult to get a loan for less than $50k.....most lenders won’t/can’t do it.

We are waiting on the signage package which includes numbering for the unit doors.

Including 30 year fixed products. 

A good market for me includes at least 1Million population with low unemployment, good jobs, cheap houses and business friendly and fiscally responsible city / state (check their credit rating).

I would also include a hold harmless statement (as given to you by your attorney).

why not secure a  construction loan that includes a portion of the purchase price and hard costs?