For your first question, writing a scope of work (SOW) involves detailing all the tasks and materials needed for your project.

This could involve offering a higher interest rate in exchange for reduced upfront costs or deferring payments until a certain milestone.If building right away isn’t feasible, consider buying the lot now with the goal of paying it off over time, and save up to build when rates and budgets align.

Calling the appraiser to see what you can do to push it up a "C-Level" would be smart before doing any reno also, might only need a few things to make it far more valuable in the eyes of the bank.I've heard of a tactic for figuring out demand, which is to put up a dummy or coming soon listing on facebook marketplace and see the amount of activity you get on it. 

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

As others have said, you will get lent more money usually with rehab involved than on a straight acquisition loan.

You may hear different from some here, but my advice is NEVER purchase something you don't lay eyes on. 

I am also curious about when/how an attorney/legal involvement comes into play with this.

We are experienced and have never involved anyone in our projects and have never used a loan outside of a conventional mortgage.

However, everyone involved would need to meet the IRS requirements for a 1031 exchange.Finally, regarding transferring an individual property from the partnership to a member directly, this could be tricky.

I've had a keen interest in investing for as long as I’ve been involved in real estate.