offer or letter of interest

[John G.]

Hey BP community!

I'm interested in making an offer on a 5-plex rehab/reposition opportunity, but have a few entitlement hoops to jump through (historic, zoning) in addition to typical building approvals. How would you go about making an offer on this kind of property? Would you do a letter of interest or an offer contingent on some level of entitlement approval?

I want to change the two commercial units into residential. The city says it's possible, but there will be lots of details. Anybody out there with experience with this kind of situation?

Thanks!