The total cost including construction and permits (but excluding the land) comes to about $2.14 million.

I’d also recommend getting a few quotes, including at least one from a mortgage broker.  

If you're looking for cash flowing markets.. a lot of investors, including myself, are looking in cities like Cleveland.

We purchased 133.7 acres January 20th of 2024, we then proceeded to subdivide 4 building lots, ( two 10 acre lots,  and two 2 acre lots)  which included costs associated with septic testing,  survey & subdivision, and property maintenence required to market the building lots.

Unlike refinancing, which involves taking out a new loan, recasting keeps your existing loan terms—including your interest rate and loan duration—intact.

You will need probably 20% of total cost (Not including financing costs. 80% LTC) as the down payment.

Quote from @Yaroslav Shtogun: Hello Community,I am seeking advice on the following real estate situation:I’m in the process of purchasing a double lot property (100x100 in an RS-50 zone) that includes a 1,200 sqft wood-frame house and a 640 sqft detached garage.

Secondarily, if I had a buyer for the land before I close, could I structure the purchase to include them without doing a wholesale deal?

So I'm guessing it might depend on your state laws and personal situation. and make sure you know of any sticky items that would eliminate the protection you get from the LLC.

@Brandon Stelling As a military veteran with 100% VA disability benefits, you can leverage VA home loans to purchase properties with no down payment, no PMI, and favorable terms, including multi-family properties for house hacking.