Inbox me you're contact info, price range and any other helpful info.Thanks,Lisa

Today the doorbell rang at BiggerPockets Headquarters, and in walked a woman who set up a Taco Bar, courtesy of @Darren Sager .Best.

Estimates from contractors range from 150k-200k for everything.

They are currently borrowing in the low 4% range.  

The terms of that second lien may not be all that great though, probably 5 year and interest rates in the 6-10% range. 

Lost in the range of 40k, plus time and opportunity cost. 

@Cheryl Holt The underwriting and processing fee seem high together, normally there is probably one fee for processing/underwriting ranging from $700 to $1,500 or so.

@Adam Schroeter I work in the medical field so I'll be based at the Naval Hospital Pensacola, so looking for duplexes nearby @Arianne L. what's the price range?

First off - asking price is meaningless except as a barometer of whether or not you might be able to do business with the seller and whether or not you have the financial ability to close on a house (ie if you can't come up with $200k you wouldn't be looking in that rough price range).

There are several options, ranging from a simple agreement to establishing a Real Estate Holding entity and an escrow account to protect the funds.