To avoid these costs, a common strategy is to set up a land trust to hold the property title.

Hey everyone, a new development in the area where I invest, is offering a 5.99% interest rate (conventional loan) and 2% of purchase price in closing costs.

Generally these will have a shorter maturity and higher costs. 

Quote from @Blake Alan Quarrie: Has anyone else noticed a significant increase in their Chicago water bill recently?

SO expect to pay a premium based on what the potential value of the building can be once maximized and stabilized.

That would be a great upgrade.

Is there a reason you’re selling that’s non-negotiable?

Focus on deal analyzing so that you know what constitutes a "Deal" to you. 

Quote from @Felicia Nitu: Quote from @Jay Hinrichs: hope it works.. but throwing in the affordable housing requirement a lot of times kills the project right there.Also at least in markets I have worked the time lines START from completed submission.. you make your submission and then get an incomplete letter this goes on for months and months soo time lines still extend.. but at least its a step in the right direction hope if works.Hi Jay, the affordable housing requirement can definitely be a dealbreaker for some projects.

Hi Alev,It’s awesome that you jumped into a 4-plex in Carson City as your first deal, especially out of state.