You can also use the program if you simply just don't like the condition of your proposed property.

Fairfax County is proposing changes to the current ordinance, but nothing has been approved yet (https://www.fairfaxcounty.gov/publicaffairs/county-proposes-changes-accessory-dwelling-units-and-home-based-businesses-better-serve-residents).If you can find a home where you can create a smaller, independent space with its own living, bathroom, and kitchen space, you can rent it as an apartment.

You can also use the program if you simply just don't like the condition of your proposed property.

I always like to show a pre-approval letter on the first page of the offer, noting a full price offer, then on one of the final disclosures, I propose the seller to provide 3% back towards closing.

What i was proposing is to do it in phases and build two duplexes (4 units ) on one side and sell it then finish off with construction loan or lease and refinance.

Regarding deal analysis, I would propose What Every Real Estate Investor Needs to Know About Cash Flow...

I spoke to one lender who proposed a $114k mortgage at 3.25% with $8k in closing costs.

The proposals I saw also had rehab estimates included.

The other homes had not been remolded for decades but we proposed doing a modern renovation and the board approved of it, started off shaky at first but as time went on I think they realized we were trying to help the neighborhood and build a beautiful home.Definitely think talking to the board beforehand and getting to know people face to face helped a lot in this deal.Here are the numbers:$170,000 Purchase Price$8,000 Closing Cost$4,000 Holding Cost$75,000 Renovation (new: roof, siding, windows, front porch, back deck, HVAC, floors, kitchen, two baths, trim, paint, doors)$20,000 Selling Costs$315,000 Sale Price$38,000 profit.Some pictures, more can be seen on my website: kenbuyshouses.net

Then you have all the govt bureaucracy that is anti landlord with the multiple and unnecessarily  changing legislation.