Your input is truly guiding my next steps, and I’m grateful for the direction you’ve provided!

I would certainly disclose the currently approved special assessments, but since any further financial obligations and project plans have not been voted on by the membership, approved in a budget, or secured in a loan; must I disclose the knowledge that the board is trending in that direction?

At one point, the borrower reached out directly and from then on I saw no reason to keep dealing with Safeguard.

For a variety of reasons, including keeping this potential project "need-to-know" only right now, I want to get a ballpark estimate with full understanding that the goal posts could move in either direction as the project gets more discrete. 

Additionally, as a co-owner, he would directly benefit from any appreciation, tax deductions, and profits from the property.On the downside, being on the loan could impact his credit score, especially if there are any missed payments or financial issues.

I suggest running an analysis and just sharing it here on BP.I am also happy to hop on a call and point you in the right direction based on some of my experiences- no matter what, keep at it...this stuff takes time.If you get a deal here in Chicago and need to partner up, I am your guy!

Users may decide it's too much trouble and sleep directly on the couch leading to stains. 

If you need help, DM me, and I’ll point you in the right direction!

Additional Considerations✅ Confirm assumption eligibility – Contact the lender directly before paying the arrears.✅ Get everything in writing – Work with a real estate attorney to draft a contract protecting your funds.✅ VA entitlement impact – If you assume the loan, check whether the seller’s VA entitlement is released.Final ThoughtsThis deal has potential, but structuring it correctly is key.

Hi Adam,I’ve worked with a handful of great rehab contractors in the Tampa Bay area over the years, and I’d be happy to point you in the right direction depending on what you need—whether it’s a full gut rehab, cosmetic updates, or anything in between.