The earnest deposit of 40% from the accepted offer is a significant indicator of buyer commitment, but it may be forfeited if the deal falls through due to relisting.While the second highest offer of $2.855M is attractive and already under contract with a substantial earnest deposit, the decision to relist for potentially more (up to $3.15M) involves weighing the risks and rewards carefully.

Will your partner be upset because you are getting the better end of the deal living rent free(assuming you aren't paying rent).What if only your name is on the mortgage and deed, then the tax documents will all fall on you and your tax return and not his which makes it more complicated trying to shift income to him.If there are two people on the mortgage, it will impact both your DTI ratio's equally in full hurting both of your abilities to get credit in the future until the property is sold.Why can't you do the live in flip on your own?

I'm potentially looking to purchase a small rental building which falls under the NYC rent stabilized program.

There are conventional loans as well with low down payments and the PMI falls off once you reach 20% equity.In this higher interest rate environment, lower down payments does make it harder to cash flow, so just keep that in mind.

I'm not clear on that relationship) performs the materials sourcing and labor sourcing (i.e. subcontracting) which usually fall under the care of a license/bonded/insured GC in order to circumvent the limits that are placed on unlicensed owner-builders. 

As Joe said, don't fall in love with it.

Hey John, Seems a bit high...they are typically falling around 7-8% right now.

Sioux City, IA / Sioux Falls, SD (Mostly SC though, where I reside)

For example, if a landlord is aware that the railing on his rental property's second floor porch is loose and the landlord has not gotten around to repairing it for several weeks, the landlord could be responsible for the tenant's injuries should he fall off the porch, regardless of what the rental agreement says.7.

I must get my first commercial property before Fall.