Hi @Namal BurmanMy name is Adam King, and while there is no official flow chart as every deal is different, There is an order of operations that I follow whenever I am looking for investment properties.

We’d appreciate your advice on the following points:-Drafting a Proposal: Is it worth drafting an official proposal with a commitment to a certain down payment to show our seriousness?

I'd not been there for several months as is often the case and didn't know it but they'd instituted a new policy where buyers need to show an official ID when going up to pay after winning that bid, this due to the goofs who were wholesaling or whatever and would put their 10% down and then use whatever name, so they could then simply call their buyers and find whoever wanted to buy it and then that person would show up for the confirmation hearing and pay the balance.

Or can I hang onto it until (a) his lease officially ends; or (b) until I find a new tenant?  

Oregon Coast now officially too.

When the California legislature passed tougher anti-crime laws in the 2000s, the legislators knew they wouldn't work (based on Justice Department statistics), but elected officials have to do what the voters want if they want to keep their jobs (assuming the Supreme Court is OK with the legislation).I believe each person is an individual and should be treated as such.

As both an investor and realtor, I am now officially emotionally invested in the outcome!

A week before the original tenants official move out date was scheduled they informed me that they were “dropped” by the lender and they are starting to work with a new lender.

Work with the local experts- talk with local zoning officials, engage architects, and reach out to contractors to understand the cost and feasibility of your project.Run your numbers- do some forecasting and layout some financial models to project costs, revenues, and returns.Make sure you are utilizing your team- aforementioned real estate broker, financial advisor/ CPA, and lawyer and others as you go.Best wishes and good luck.

It's quite common and beneficial to the builder to sell homes before they are officially completed.