Some projects fell behind the schedule, and again it was only through buying aggressively that I was able to save my skin and avoid any further embarrassment for my banker who vouched for me in front of her board and committee.

I plan to join their fuel/ypn committee further in the year after I have a little more time and money.Cheers!

A year later, we converted the property to a duplex (we needed a minor variance from the Committee of Adjustment, got refused, and I successfully appealed to the OMB).The reno to convert to a duplex legally was $50,000.

Although I'm not directly in property management myself, I've been a member of the Multifamily NW Forms Committee for 9 years and so I've picked up a lot of info and heard a lot of manager questions, attorney answers, and horror stories.

Since it did not need to be approved by a committee and she approved it in 3 days.  

The dispute went into ethics committee for the escrow company and will be tied up for a least one week. 

A million dollar LOC goes through several committees at the bank, even if you are Bill Gates.Just ask for a 10% or higher deposit if you decide to sell to him.

I like to think of it as a revolving credit facility where I am the bank and I don't have to rely on an external credit committee and the associated red tape to draw from the facility

I spoke to community development about this and they too have said there is nothing commercial about the property, although the comprehension plan allows it, but it would have be approved by the committee and neighborhood.

What makes it such a discount at this point in time is that even though the municipalities planning committee GIS system indicates that they have easements established for road frontage for this lot, currently there is no road frontage.I would like to take advantage of picking up the lot while deeply discounted, but I know that no road frontage will impact potential plans to convert this over to a cash flow play (or to liquidate it later if needed) until completed by the municipality.