Have phase 1 architecture drawings/site plan that have been informally reviewed/okayed by local building inspector.

They had already retired and were transitioning to their new phase of life.

My question for you today is due to the fact that we haven't settled on a syndication attorney yet--we're still in the initial phase before we go through that process and potentially have one on retainer.

If I were in a position where I had significantly more units/cashflow or huge cash reserves, I would re-consider, but during the "growth" phase of my rental business I don't want to take the risk of having to pay those kind of expenses out of pocket.  

However at this phase of my business a huge out of pocket expense like replacing siding, roof and decking from a major storm would be enough to really hinder my growth for several years. 

I aim to do more investment deals and build more partnerships in time and maybe someday I'll phase out of the transactional side of the business altogether when I'm busy with building my own portfolio only.  

I am currently drafting a detailed sheet of projected expenses for the long term project in phases with projected cashflow to narrow down exactly how much we would need for each portion of the project.Thank you for the warm welcome!

We let the lender know to continue to progress, as we had lead inspections and phase I reports lined up.

I bought a house with a mother in law apartment. I’ve been clearing almost the whole mortgage by renting the basement but we’re planning on buying a new house and moving. The house is in R-1 zoning so I can’t technica...

So we should be ok, but we're still very much in the "unknown" phase right now but it's certainly a little better than last week when I cried just about every single day because of all the unknowns that were still at play.Here's a little "before" picture.