Because with your decision to not pay the rest & put it on the tenant can stir up some commotion on both the company not getting their money & putting the bill back on the tenant.

The rest of that stuff is piddly except for the roof.

The rest of the land isn’t really easy to build on so It is virtually worthless to you.Let's say you paid $5MM for the facility based on NOI and the land came with it, virtually free.So you decide to get the property appraised for development value and donate it to a land conservatory.The appraiser runs some comps on other land recently purchased to get you a value.They come back and tell you the current development value of that land is $50,000 an acre. $50,000 times 15 acres equals $750,000.You give that $750k development right to an agency, and It is treated as if you gave $750k to the Red Cross.It's a huge deduction.Depending on your tax bracket, that tax deduction could be worth several hundred thousand dollars to you.It's a pretty big deal.

This eliminates 80%+ of the calls we get since almost all the questions are simple things that guests ask that can be easily documented.I'm sure there's more, but thinking about this will get you way ahead and the rest you'll learn as you go!

I also want to avoid FHA or conventional rehab loans due to negative experiences I’ve heard.I’m considering two options and would appreciate input:1) Physician Mortgage LoanNo down payment or PMIRequires AC and flooring to be installed before closing ($44K)Would ask the seller to cover these costs and adjust the priceDrawback: flooring will likely need to be redone during renovation, creating inefficienciesPlan: fund the rest through personal loans and cash over 2–3 years2) Hard Money LoanFinance both purchase and renovations up frontComplete renovation in 6 months and enjoy the home fullyOption to buy AS-IS with no additional work needed before closingPlan: refinance after renovations to pay off the HMLLet me know your thoughts or if there's a better route I’m overlooking.

Or would it still be better to pay it with cash, invest the rest and use equity to potentially buy a 4-plex down the line?

The rest you need to handle.

@Md Kamrul Huda Using 100% borrowed funds via a HELOC for the down payment and a loan for the rest, to buy 10 rental properties without a job or cash reserves is extremely risky, especially in today’s market with ~7.5% interest rates.

Then set time slots for the rest.  

I'm in Canada, but had two options-one was pay the deductible to the company doing the repairs, the insurance company paid them the rest and it was under warranty for 3 years OR take the cheque and hire someone on my own to do the repairs-if the cost was higher, I paid the extra and if was lower, then I kept the difference.