Since you can’t do a formal inspection, a detailed contractor walk-through and phased renovation estimate are key.Have you considered checking city records for past permits to uncover any unaddressed issues?

I represented a client and there was a room without a closet but the appraiser considered it a bedroom since there was a free standing closet and the tax records showed it as a bedroom.  

I was on a senate committee way back in the 80s to deal with these antiquated subdivisions and lots of record which of course many of these areas are.

this is what we build and we do it with newbies but make sure you partner with a builder who has experience and a track record.

So the first seller agrees to direct title to holds the funds and when you close on that purchase you record a new note for the first seller on the second home.

Here’s how to find a broker you can trust:Ask for Referrals: Reach out to fellow investors or real estate agents for recommendations.Check Credentials: Look for brokers who are licensed and members of professional organizations, such as the National Association of Mortgage Brokers (NAMB).Review Their Track Record: Ask about their experience with real estate investment loans and request client testimonials.Interview Multiple Brokers: Prepare questions about their lender network, fees, and typical loan turnaround times.Evaluate Their Communication: Choose someone who listens to your needs and provides clear, honest advice.4.

Here are some key elements to include:Lease Agreements: Ensure your contracts reflect the latest laws, such as notice periods for entry or rules around security deposits.Fair Housing Compliance: Familiarize yourself with federal, state, and local fair housing laws to avoid discriminatory practices.Property Standards: Regularly inspect your properties to ensure they meet safety and habitability standards.Tax Documentation: Keep accurate records to comply with tax reporting requirements.4.

An experienced private money lender will want to see a track record.

It’s also a good idea to assess their track record in handling alternative investments and supporting clients through changes.I’d be interested to hear how Inspira addresses these concerns going forward.

Considering recent market insights, reallocating your $300K brokerage account into a multifamily property while keeping your townhouse rented could be advantageous.Warren Buffett’s Berkshire Hathaway has accumulated a record amount of cash, suggesting a cautious stance due to potential market overvaluation.