Anyone familiar with contracting property that has a pending insurance claim.

When I bought this 'address' there was a vote pending with 'front town'.  

Anyway, over the course of last few months, I have befriended the builder and he recently told me, the penthouse unit has fallen out of contract, it was pending for so long because beneath the unit are 2 commercial units and the town would not issue C/O for penthouse, while those were under construction.

I'm interested in making an offer to the investor as is, pending results of an inspection at my cost.

Pending the cost of development and the type of financing we can leverage this may be a great opportunity for the high net worth looking to shield their current capital gains and defer it out.

You need to look at the present, past, and pending sales. 

It reminds me alot of 2004-2006 when you would see new housing subdivisions popping up every weekend.My personal boots on the ground examples (Grand Rapids, MI) include seeing lots of new high end apartments being erected every month, with tons of amenities going up with rents that compete with the run-down 16 unit buildings that were built in the 1990s.I'm curious about the BP community's thoughts on the possibility of a pending bubble burst in these multi-family apartment complexes?

Not, because he believes there is a pending crash in the entire asset class.  

The the renovation numbers does not include the two units I would want to put in the basement (pending zoning approval) I estimate 30K to net me an extra 850 in rent.

Depending on some pending job offers I am leaning towards the Fort Mill area.