I’m in the early stages of putting a team together with the goal of aquiring multi family units in central Iowa.

"Real Estate Commission Rebate Program"Pre-arranged and in place for pre-approved borrower/buyer clientsGood Faith Bid for a Purchase Price of: $500,000Listing Pays: 3%= $15,000 / Rebate to Buyer: $12,000Rebate to be credited at closing as follows: Closing Cost                         $ 8,000Home Warranty                  $ 500Attorney Representation  $ 700 New Flooring$New Window Treatments$New Windows$New A/C System $New Appliances                   $2,800Hurricane Generator$ Other: $_______________________________                                    $ 12,000 Rebate TO BUYER

@Andrew Johnson covers a portion of this as he mentioned factoring in his rehab cost during his initial stages, not sure if he's referring to long-term property holds of 20-30+ years.Also keep in mind these strategies will change based on property type, SFR, Duplex, Quads, etc... will be treated differently than a 20 unit building, which will be treated differently than a 120 unit asset, and so on.... this will also get you different replies to your question as the different debt structures will fulfill different requirements of the investors.

If you use a Title company they will arrange everything required for the closing and coordinate the receipt and distribution of funds.

I recently found a private money lender with the potential of funding my real estate deal in which is in its early stages.

Also, you can engage your lender early 45-60 days out to begin underwriting the loan from the 6 month requirement and arrange settlement to occur right around the 6 month mark.

at this stage in the real estate cycle make sure the rentals are going to be good for long term holds.

Hint: Don't skimp on staging costs for this one.

If property owners are not using an architect at this stage, are they simply making a submission based on an educated guess as to how much it will cost to provide the space needed?   

It is a great strategy for a certain stage of life (before a family with kids).