Also, if you are confident in your numbers of being all in at $40k, renting for $700+, you should be in good shape as long as taxes and insurance aren't too high and there's no other immediate big ticket items in need of repair such as the foundation or basement waterproofing.

Most importantly you need to convey confidence and assurance you are a player and not just wasting their time.

Be humble yet confident.

I finished the call and felt very confident I got it.

In order to sign a lease on this space, we will need to have confidence that the arrangement will allow us to recover the initial investment into our business, and to make a living operating our business out of that space.

In order to sign a lease on this space, we will need to have confidence that the arrangement will allow us to recover the initial investment into our business, and to make a living operating our business out of that space.

That being said make sure you are confident you will be able to keep your rents above market moving forward.

The taxpayer doesn't need to be on the hook for that. 85% LTV cash out refinances should be non-QM, non-Agency, in no way backed by the full faith and confidence of the US Federal Government or any entity owned, insured, backed, or anything remotely similar.

I recently was put into contact with another GC who seems to be confident in a more competitive bid. 

There are a LOT of details involved and my two cents is predicated only on what you disclosed so, take it with a grain of salt at this point.Suffice it to say, if there is equity, i'm confident they won't sell it to you at a discount.