The two most significant operating costs are property taxes and insurance.

The property owners IN MASS burnt down their properties, which, since they did not file insurance claims was actually the only LEGAL way to free themselves of the continuing negative cash flow of these buildings.  

Do you frequently require subcontract and vendor engagement (lawn care, snow removal, building maintenance, management company etc.) and if so, do you sign contracts and require that you are listed  as additional insured on their insurance policies? 

Increasing your construction budget by a small amount can have an enormous impact on your overall construction budget, productivity and site safety/insurance premiums.

This cost is typically 0.5% to 1% of the loan amount.Title search and title insurance: The lender carries out checks to ensure no issues with the property’s title, like a tax lien.

Same with insurance or CPAs. 

Agents, buyer/seller, insurance agents, attorneys, title companies, inspectors, lenders, mom & dad, relatives and so many others. 

We specialize in working with REO, real estate agents & brokers, institutional & private investors, and homeowners, offering solutions that meet the unique needs of each project.At Nuovo, our core values are at the heart of everything we do:Vulnerability: We maintain open lines of communication, ensuring transparency throughout every project.Integrity: We approach every task with honesty and a commitment to doing the right thing.Innovation: We constantly seek new ways to improve processes and outcomes.Adaptability: We embrace change and are always ready to adjust to meet client needs.We believe in creating a fun, open, and trusting environment, both within our team and in our client relationships.

As far as closing costs go, see below:-Title fees-Title insurance-Hazard Insurance-Lender's closing fee, underwriting fee, or any other flat fee they charge-Origination fee-Attorney fee (if the property is in an attorney state)-Doc fee for closing docs-Prepaid interest through the end of the month you are closing-Recording and transfer fees on titleThat will cover most of your normal closing fees. 

And that doesn't account for taxes, insurance, maintenance costs.