Investors use to do this years ago to get a low price based on a cash offer and then they switched it up for leverage.The banks later caught onto this and put a clause in the contracts where if you switch from a cash deal they can render it null and void or ask for a higher price.The reason is the banks have a different price for cash versus a contingency with finance price.I am also surprised about them letting you use your closing attorney instead of theirs.I guess it all comes down to a case by case basis and what you can get away with.

They usually place the architect's rendering and the floor plan on there to generate interest.

I want to begin to thank everyone for their ideas and concerns and most of all your knowledge . so here goes..................I generally use a contractor here and there and who is available at the time in my little circle and played them for services rendered  Question.??

But remember...the value of goods and services quickly diminish after the service has been rendered.

No person engaged in real estate activity without a currently valid license shall have the right to receive any compensation for services so rendered.

Hey everybody, I am very happy to post my first project that starts since I join biggerpockets 3 months or so ago, I moved to San Diego 18 months ago, I used to be in the big private equity sector, but I decided to start investing and consulting, so 6 months ago this  young talented architect came to me with the idea that his Girlfriend family, owned some land/Shack in Hillcrest area in San Diego, so I saw the property and fell  in love with it so I started consulting him as how to get funding, ETC. so finally after 6 months with city planners, and shifting as 30% equity investor my self, we found a bigger equity partner for the remaining 70%  and I am happy to share. that we started construction last Thursday this is a render of how our new 9 units are going to look like. 

I would hate to see you close, and then not be able to do a repair 6 months down the line that would render some if not all of the units un-rentable. 

The city sent me proposed renderings and it looks simple enough. 

In the event of a loss/lawsuit (say, for example your tenant's broke friend "trips" on the sidewalk and suffers emotional trauma that renders them unable to work for life), ALL money sources will be listed - your insurance company, the entity that owns the property, you personally, all other assets (LLC's, businesses, etc.) owned by you personally.

Thus, any prudent investor in a 3-family property in Union City would now be stuck with a property subject to rent control.The relatively safer way to avoid rent control would be investing in towns which do not have any rent control ordinance altogether (thus rather than tweak a small aspect that renders your property rent controlled, they need to actually put a whole set of rules in place, which arguably is a bit harder, though can also happen).