Hey @Chi Lo - I actually have a video on my YouTube page about this (lookup ClosedByMo on YouTube).Regarding walls being damp and waterproofed, it means there needs to be waterproofing on the basement retainer walls (this is something you can do post-construction and the contractors would need to dig around the house exposing the basement/foundation to apply the waterproofing). 

Now go crush your 2025 real estate goals and keep us posted.

I suggest you enter private money goldmine in search botton at top right of the screen and read the previous posts....here is one that gives good perspective as well as a link to legitimate private lenders.http://www.biggerpockets.com/forums/92/topics/1488...

If you have to provide negativity with your comment, then please refrain from commentingWith 21 posts, you don’t get to tell people what they can and can not post.  

The tenant wants to stay 2 weeks post closing in order to get all of his stuff out.

I use dealmachine for cold calling and for sending post cards and that has worked pretty well.Good luck!

what you're proposing, while possible, is incredibly difficult and highly risky, and i don't know how you would do it completely remotely with no plans to visit or set up a team.i think i've said this in other posts, but there is tremendous demand for inventory right now among both retail buyers and investors. 

You should connect with @Fed Finjap; I just saw on another post that he is also buying in the Chicago neighborhood ofLakeview and he recently went through some lessons learned on a 3 flat in Chicago.Check out his post:  https://www.biggerpockets.com/forums/922/topics/1223655-refl...

its been a few days and this post has gotten a lot of feedback.

If the HELOC is from an existing rental property (A) but funds are used for rentals (B and C), the interest must be allocated to B and C, not A.This post does not create a CPA-Client relationship.