Best of luck moving forward.

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

What should my next move be if I am looking to push forward with this deal?

To deepen my understanding, I've also picked up David Greene’s book on the topic.I genuinely look forward to connecting with seasoned investors in this community and learning from their real-life experiences.

Fast forward 5 years later, he is saying the same thing and nothing but promisesThank you, Pamela, for saving me alot of money and exposing how they do business without ethics!

I’m a licensed agent in Indiana and Georgia but open to advice and insights from anyone, anywhere.Looking forward to learning, connecting, and growing with this community.

Here is a resource on dangerous dogs. http://www.dogsbite.orgGlad you have a plan and are moving forward.  

Looking forward to hearing from investors who have experience with this opportunity. 

(If there is a PM, who will manage the PM and the oversight).Who will take care of the partnership return or forward the tax information if its a tenants in common property.Best of luck

Change orders are going to happen, but by needing approval from you before they move forward, this allows you to control expenses better and/or make adjustments in the SOW so that you can stay on track and on budget.