I'm in a “sticky” situation where I could potentially lose my earnest money (5k) due to me potentially backing out of the deal.I’m in contract on my first owner-occupied property that was listed as “public sewer” but we come to find out it was on “septic”,  which the sellers were able to get inspected right before the 10 day inspection contingency expired.

Many requests for advice end quickly when the people asking fail to produce the information.If you are moving to another area far from the home you currently own I would definitely sell that home and purchase a 4-plex in your new area because there are many areas where you can purchase a 4-plex for the p-rice of a single family home.

Hey @Dakota Rice, lenders will typically use the lessor of the two values to reduce the risk on their end.

Quote from @Matthew Rice: Hey Mary!

Quote from @Matthew Rice: Hey Ramez!

You can contact @Matthew Rice on here to help with that.

As usual in the 2-layer structure, put this in the state that has the properties you want to BURRR, member managed and sole-owned by your QOZF. note: set everything up and then fund it - there are sticky rules about what a QOZF can own, and it precludes having a bunch of cash sitting around. so fund the QOZF and have it transfer right away to the QOZB.the QOZB is the entity that will actually buy, rehab, and rent out properties.

With solid lending, nominal prices should be sticky downwards, and I don’t expect national declines in nominal prices."

It’s a sticky situation but me personally I wouldn’t spend an ounce of brain power on trying to get him back I would just go buy some more properties and verify leases next time if the purchase is based on rental income.

You were right in going to an attorney, this seems like a sticky situation.