If the seller is insisting on a high price with not-so-hot financing terms, though, this may be a riskier project than it's worth.

I purchased this using an FHA loan and the address listed on the loan is 1001. 

Has anyone have any experience acquiring multifamily property using a SBA loan like to get your thoughts?

Remember this is a marathon......That said are you planning to flip, hold(short or long term?)

You want all expectations spelled out in your independent contractor agreement.A big mistake, would be to leave way too much "grey area" where terms, conditions and expectations are not clarified and documented.Don't expect the contractors scope of work to outline all of the if-thens that can arise during the course of your project.From deadlines, work schedule (days and hours), license, insurance, compensation, deadlines, deadline penalties, early completion incentives, who's allowed on the job site, reimbursement for out-of-pocket expenses by the contractor, change orders, waiver of lien, death, termination, arbitration, etc.The industry standard, would be that the contractor performs in accordance to what your scope of work and supporting documentation, like the independent contractor agreement, specifies. 

It was a buyer’s market at the time so negotiating involved asking the seller to pay closing costs and being patient with our FHA loan.

when I get into the weeds of the day I end up using the usual abbreviations and slang terms lol. 

Through all this I learned Joyce had a husband and a long term marriage at home and me not being the only client she slept with over the years I learned she had MANY sexual affairs on her late husband Larry Liggett who died of cancer at there home in November of 2023 while she would not even get him the proper health care needed and call in Hospice while she was coming to my residence and have sex with me and other male agents .

A wrinkle in this story, in terms of what is owed, would of course be if you re-rented the property on the 17th, but I would suspect that's not the case. 

I used an FHA loan but I am concerned about accepting rental payments into my personal bank account.