If there is an existing lender not agreeing in writing to accept payments from the LPO buyer, then you are in violation of the statute -- and it is a very toothy statute -- vs the seller/landlord side only thoughWe are getting ready to get one in place because the seller is demanding it and my client is the protected buyer.Yes -- you must vet your sub to buyers -- some should not be anywhere near a wrap transaction.Stay safe out thereAlan

It looks like you can use a 203k loan for new construction to reconstruct on an existing foundation.

He's seen me grow to four units (3 properties) and I'm thinking, there's gotta be a guide or book that would help him just follow step-by-step how to rent out his existing property and buy a new one.

lol brother if everyone had that kind of money this website wouldn't exist.

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

But I could easily make this a 3 bed, 2 bath within the existing sq ft. 

Unit 2 - long-term rental (this will usually be with an existing tenant since you already have that running well or in a larger unit that might net the highest rent as a long-term)3.

I currently live in Southern Maine and am looking to construct some kind of new project rather getting into rehabbing existing residentialProposed Land Budget 100-200kConstruction Budget: 400kAll in 500-600k.I have found that if I do the site work myself including clearing, septic and digging the foundation is that i can sub contract out either steel or a Lester style building (50x150) for around 300k installed with insulation and power , divided into three 2500 square foot units. 

They could work with an existing lender, do some marketing to help broker, get a cut and make FARRRR more $ with zero risk vs this EMD lending. 

@Peter Mckernan Love the way you did that deal and agree that those deals exist both on market and off market you just have to be able to look for them in an effective way and add creativity.