For those of us who have most of the necessary elements, why wouldn't we diversify our units?

Elements like window frames, door frames, railings, door handles, post boxes, a flowerpot, and address posts can greatly enhance the overall look.As Kristin mentioned, it looks like a nice flip.

Key elements include paperwork, third-party inspections, and critical dates for due diligence and closing.

Terms for the seller 2nd have generally been 5%, interest only, 5 years.I'm only considering properties under this scenario that cashflow well immediately, hence the i/o payments, in addition to having a strong value-add element.

I can not imagine you'd get a permit with "just a box drawn on the site plan".....nothing showing plumbing, electrical, structural elements, etc. meet building code.

I like how you point out the "technical" elements at play by mentioning the demand for MBS versus treasuries. 

Terms for the seller 2nd have generally been 5%, interest only, 5 years.I'm only considering properties under this scenario that cashflow well immediately, in addition to having a strong value-add element.

Did you run into any unexpected challenges with the layout or structural elements?

Upon closing on the deal, I plan to also conduct another visit to address the logistical elements of getting everything set up and finalized. 

Bought an auto repair shop for 30% of value because of environmental problem.