The property may be deteriorating as the debtor delays and as his attorney stretches out initial court hearing (in BK court) for 6 months.  

In my initial communication I make sure that they have read the entire ad including the acceptance criteria.

I initially thought that variance was only to change from 2-->3 units for example.Regarding finishing basements without bedrooms, in your experience is it just hoops that need to be jumped through/permits needed, or are there scenarios where you could be denied/not approved entirely?  

—can also be acquired on an all-cash basis, but your initial outlay will be a lot higher, and leasing cycles will be longer and more complex than single-family.

I claimed for years 1) initial cash flow and cash flow over a long hold have a poor coupling 2) that I would purchase a property with negative initial cash flow.  3) I cared about total return and did not give a $hit about cash flow if the other returns produce an outstanding return 4) that cash flow is my least favorite return because it gets taxed annually. 

Oh and we had to drop our initial price of $2,650 for mid-term rental to $2,250.The reason for the drop.

However, it wasn’t clear if lawn care, snow removal, and ongoing maintenance costs are included, as they were initially listed as $0.I’ll clarify with the seller exactly what’s included in their reported expenses to ensure we have a complete picture of recurring costs and any potential gaps.the seller dropped the price from 798k to 645k.

@Kristin SolbachWhat was the initial purpose of your original setup ? 

Been dealing with NYC DOB, initially as an Expediter, now as a Licensed Architect on behalf of my client's and their projects since 2005. 

I wouldn’t do an initial draw at closing.