@Phil SheltonYou would need a civil engineer to provide a drawing to get submitted to zoning and get a permit if it passes zoning is most common This also depends on the road - if it’s a state road forget it as it will take a year to get approved and cost a fortune - if it’s a local road process not as cumbersome but don’t expect this to happen quicklyIn some instances you may have to prepare sight distances etc to make sure it’s safe to add a curb cut

You’ve already got a head start with hands on experience.. and you’re probably way more prepared than you think.That first property can feel both exhilarating and terrifying, so here’s what I’d focus on:Cash Flow & Analysis..

This also helps with asset protection, monthly bookkeeping and annual tax return preparation. 

Other than that, you can prepare a simple notice letting them know that you thank them for applying, however they did not meet the criteria, and you can choose to tell them it was based off of their credit, and or background or simply just say that the minimum requirements were not met. 

It's important you understand this, be prepared, and expect that going in.

If you are raising capital from people you don’t have a prior relationship with, and even people who you do, they would regard you as serious only if you had a professional prepared PPM and Operating Agreement.

(The typical commercial loans I use are at 9.5% right now so be prepared for that.)4. 

I look at foreclosures.comOut of the 3 stages I am definitely not ready for an auctionpreclosure / short sales:- I need to research how to take over a deed / title- need to prepare how to do door knocking (I have a sales background and feel confident in dealing with an emotional conversation about someone’s home) - there IS a window of like 4 weeks that I need to prepare for (have my finances in order) to then bid before it goes to auction?

Of course, these properties are full of challenges so be prepared before you start. 

This allows them to focus on their W-2 jobs, family, or preparing for retirement without the added stress of managing properties.If you’d ever like to connect and exchange strategies, I’d love to help.