It might not even apply to you - just another issue in a somewhat gray area of real estate law.But remember- if a buyer buys the home in a double closing - no issues whatsoever - anywhere. 

I see many situations where one generation wants to buy out a prior generation or, more typically, siblings.

On the flip side, traditional financing typically offers better rates and longer terms but can take longer to close, and you’ll likely need stronger financials.If you’re trying to balance speed with cost-efficiency, it’s worth considering your project’s needs and how quickly you need to get funding.

Here are some key things to consider:Find a Sub-To Friendly Title Company or Attorney – Illinois is an attorney-close state, meaning real estate closings are typically handled by attorneys, not title companies.

If you're strictly buying turnkey properties and financing with DSCR loans, keep in mind that you'll typically need to put down 20% or more, and because of the higher LTV, you’ll often get the highest interest rate available for your credit bracket.

I find that other formulations of the risk adjusted return analysis either (1) are too simplistic (typically the ones available through an internet search or (2) are so complicated and require so exactly an information input determination that to successfully use requires an advanced degree in statistics or analytics (usually ones taught in “top ten” college courses or (3) are so poorly developed that they can’t be relied on within 3 standard deviations from the mean.  

Hey @Victor So - We typically use MG granite who works out of the Chicago suburb Elk Groove as well.I'll share their contact info in a PM.

We decided to quit buying rentals to hold, and instead, the units that we typically would rehab and hold, we are going to rehab and sell.

@Richard Rafferty, given the relatively small nature you are looking to take on with your first syndication, personally, I would find it hard justify the typically 20-30k+ for a paid mentor. 

Quote from @Devin James: In one of our development projects, the City staff asked us to remove 40 units from our concept plan.This wasn’t requested by the City Commission at a formal hearing, it was the opinion of the staff.Our original concept already proposed fewer units than the current zoning would have allowed.Here’s what erasing 40 units means:- 40 fewer homes for buyers- Over $1M in lost profit for our team- Fewer tax dollars and impact fees that could’ve benefited the City’s infrastructure & servicesWe gotta get betterEveryone wants more affordable housing, but not everyone wants to do what it takes to achieve it we never listen to the recommending bodies. we move for city approvals and work closely. the other thing we do is keep going back to the same groups over and over and over and over every month on the same agenda and make very small reductions like 2% or 4% and that reduces and beats them down eventually they accept what you want. it's just before beating a dead horse. we keep tabling until they give us something we all agree on then we go to vote. in our city in columbus we have to get recommendations but that's our strategy. we used to come out as aggressive as possible. we typically study developments in the area and keep it very similar in terms of density. we have a track record of very controversial projects and litigation and not taking no as an answer. after a year of that haha I can tell you it's not worth it. now we are more relationship based and buying the right kinds of plots of land. if the numbers don't work on the front end don't do the development.