If this sounds like your perfect playground, go for it :) There are STR restrictions in these areas, so make sure you know what you're buying before you do. 2.

If you want to work with me great, but if not, that's perfectly fine too!

No one has a "crystal ball" to time the market perfectly. 

Some properties are about 5/10 min walk to Reed so this would be perfect.

Yes, that makes perfect sense, especially in such a large transaction to find the replacement property.

So now they start doing things to scratch that itch, and it starts unraveling the "perfect" Sub2 deal. 

In a rapidly-rising interest rate environment (such as we've recently experienced) that tradeoff may or may not pay off.Unfortunately, in CRE finance there is no perfect financing vehicle and you can't eliminate risk--you must choose which risk you want.

If so, you are perfect for finding a fixer and going that route.

That is exactly what traction helps you do that @Chris Seveney pointed out.It doesn't have to be perfect, but just getting something down on paper will be a huge help - at least, that's what I found when I started our Chicago general contracting business.  

If you wait for the perfect deal it will never come.