Draws are almost always held back until you reach certain points in the project or that work is completed.

(Some have argued that the actions of the Obama administration were illegal taking.)The main problem with having it controlled by the government is that it has been, and will continue to be used for political purposes, right or left, depending on the administration.I'd rather see it outside government control.

A project like that will probably take 6 months to 1 year, so what's your expectation for future rents?

There is no requirement to use them as mentors for doing the rehab projects as described in the horror story above, but they do their own underwriting so they will be investing themselves to assure the deal makes sense and is successful to assure they get their payments and interest. 

I agree that DealCheck (or the BP calculator) does not provide enough tools or functionality to analyze those types of transactions (yet).But I would argue that it does a great job at analyzing more traditional buy & hold SFRs and multi-families, as well as flips and rehab projects. 

I wish you well in your project. 

Prioritize renovations that add value and create a timeline for the project.

The program was created to give low-income tenants an alternative to living in federal project housing.S8 sets their rental rates to the LOW-END of market averages, if not slightly below.

Large construction projects.  2.

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