The main property will be my primary residence.My biggest question is, what kind of foundation would you use, (that is to code and will pass inspection/permits in Charlottesville) that is either relatively easy DIY or cheap to outsource.

It's also nice because we can upload invoices, quotes, drawings, permits, etc all to the individual project we create.

Fix-and-flip or builder’s risk insurance should be in place before work begins, and confirm your contractor obtains all necessary permits to avoid delays.

As long you work permit visa (H1B OR F1 etc) then you will be able still get qualified with a conventional loan.

Annual "Permit Fee" of $42 annually for 2025... any insight appreciated.

Duplex have different zoning that may permit additional units.

Double check on permits if the previous owners has done a remodel.Do not rely on agents representation.Do not work with a dual agency as a buyer, the agents first commitment is to the sellers.Allow at least a year of seasoning before determining the profits of an investment.Happy to share.

@Akil MitchellFrom my experience, when buying a property, it's crucial to assess local building codes, potential de-conversion costs, and permit requirements.

Good thing is they don't have rules about the interior remodeling (except the regular county permitting process).

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.