Hi Leo, its been years since I closed on a HUD property but you close on the property as soon as title is ready like any other property.  

It's a wholesale deal close to downtown and I want to build a portfolio of duplexes for buy and holds because of the ROI.

Hello @Hudson Filippi FHA does have a One Time Close construction loan that will allow you to build a home.

If the leases end up in the realm of where we believe they will the value of the building will go up a good amount and we will have close to 1 million in equity.  

The whole point of a cash offer is speed and certainty - if you can bring a pile of money to the closing table today, I dont have to worry about you not getting the money to close. 

Once you find this range you should be very close to understanding your buy box. 

You can use your commission for down and closing.  

They sell a 4 unit for close to 1 million dollars close to Jacksonville. they want 250k or 300k down. there's no upside. you can google the properties on biggerpockets and there isn't a lot of satisfaction. it's a slow return and get rich slow strategy. our focus is always as a builder to add maximum value, lower cost as low as possible, build and rent and build and sell the same product and raise prices to help investors out. we have a large market share and large purchasing power in our market in columbus ohio. the one strategy I never liked about turnkey new build brokerage companies like them and build2rent or others is they don't really build close to urban centers and most are single family homes. the numbers don't work on single family homes. if single family was the way to go more companies would be doing it. but by far the most common type of new construction built is three story walk up apartments.

I've since closed down to focus on other businesses and run my own STR's. 

I feel like there's still people trying to make BRRRR deals work close to the city and the truth is it's nearly impossible given prices, rates, and the cost of construction.