Not every loan program allows for modular construction.

This criteria is for 1-4 and 5-8 unit programs.

In Worcester, I think your numbers are pretty close, but there are also a lot of Programs between Mass Save, and the City of Worcester that will pay for many of these things if you agree to an income restriction, or sell income restricted. 

Clearly there were missed maintenance issues in this case, but I would still instruct your PM (or future PM) to make it a requirement that all prospective tenants tour your properties first before processing applications.I’ve even had tenants sign Sight Unseen / As-Is addendums and later be unhappy and still want to break their leases.

I asked to be reimbursed our Project 100 money, and he said that since we used the program, he would not.

There are programs out there that will allows this.

You should also ask the lender if they are associated with any closing costs assistance programs.

@Richie Linnon if the unit needs renovation, which is likely with someone there that long, perhaps plan to give tenant 3-6 months’ notice as it will possibly be difficult and stressful for them to find something in their budget and they may need time to apply for and be accepted into assistance programs.

They sent me the figure with wiring instructions and I sent the money to bring the loan current.

Not sure about that but make sense Yes that is part of it, but as technically the program ends next march and then you have a year to pay it back.