You might lose the homestead exemption, face IRS scrutiny, and encounter issues with your mortgage lender or insurance provider.

You will want an attorney and try and get it through federal court as district court will take 3+years (if you are near the city expect 5 years then several years to evict)Through federal court you may be able to get it done in 2-3 years.I strongly recommend you offer a nice cash for keys package.

Sheriff sales are unpredictable if the house is a tear-down then you should not encounter heavy bidding.

As a side gig, I sometimes do this for residential real estate agents to include in their hand-out package.

Any work outside the scope of the initial plan is not permitted as the loan amount cannot be increased.If the project encounters cost overruns, those cost overruns will be the responsibility of the borrower to pay.Renovation Term Extension Fee:.50% of the total loan balance.

If you look through many of the threads on this site you will see a great deal reviews showing full experiences that encountered obstacles, but more importantly, how we stayed involved to resolve the issue when those issues came up. 

Most people want to concentrate on the “packaging”; professional looking pitch deck, great graphics, slick website, etc.All that is a GIVEN.  

Whether through refinancing or bringing on partners, it’s ideal to play in the multifamily market or look for distressed single family package deals to continue expanding your portfolio.

So, whatever issues you encountered in getting a conventional investment initially, are likely still there.

Additionally, I own an adjacent parcel with 5 acres of coffee and have obtained permits to operate an agricultural tourism business there, with entitlements to build two more dwellings.The estate is situated within a gated community, and while it’s a remarkable property with a lot of unique features, I’ve encountered some pushback from the neighbors, which has made me reconsider my position here.