Hi@Allan Glass, This is excellent idea as long as you can fill the space with people in particular field.Having same business interest can create very good community...As this thread started 5 month back, Have you started any site..?

@Jared Standiford, very good - so long as you understand that it's only a "free" $43k if you put it to work for a greater return than you'll be paying back.

Anything without plumbing can be easily installed on a slab as long as there is an adjoining basement foundation wall and overhead access.

I'd put new one in also for same reasons.Keep the tenant as long as you can but give yourself some lead time to freshen up the interior, on a Single family home most are likely looking for personal use and I'd have it empty once you list it.Showing a home with someone in is not optimal the tenant's idea of cooperation is not always easy to define and a messy place doesn't give a good impression, wasted time with occupied in my opinion.

This would resolve the concern regarding the non-conforming unit.Any seller financing would be secured by the subject property (not my other assets).I'm not sure how the "rent back" clause gets documented, but I would like the contract to formalize that the owner can rent back her unit for as long as she like for $2000/month.

It wouldn't be unreasonable to base an offer off the numbers the seller provides so long as they look reasonable and as part of your due diligence after getting it under contract go through the motions of actually verifying them through whatever means required.

Once you know that you have a couple who will lend to you as long as you have a deal they will approve you just have to find something and pull the trigger.

As long as you use your clear and strict screening criteria to eliminate applicants in the end you will have only one that is the best.

(I don't think I got an answer to that one, but now that I'm reading THIS thread, I'm more convinced than ever that VA is NOT for the purpose of guaranteeing that Investment Loans will readily be available to Veterans so long as they're clever about using the VA system). 

Everything about the RTA and LTB regulations is on line.Your tenants leases are cast in stone for as long as they wish to remain as tenants unless they voluntarily agree to any new lease you offer.