And yes, contracts fall thru all the time, and subsequent buyers won't give it much thought.

@Gina sthere is hard money available for acquisition and renovation as well as the subsequent long term financing in the commercial world, but commercial renovations can be expensive.

When they visited the unit again on the agreed upon scheduled repair, apparently the PM got no response after knocking on the door and subsequent phone calls were unanswered. 

I've had several foreclosure deals lately that were expected to come to market but an investor purchased the right of redemption and subsequently was able to secure owning the house before the property was listed on the open market as a foreclosure sale.

No, you can't quite just show up with a hose, but perhaps you can mention this to your Inspector-- assert that they SHOULD HAVE thought about drainage here, and ask them to add a note stating something like "subsequent inspections of directionality of exterior stormwater flow are recommended..." 

If the residual cap is subsequently sold, the money received is income or capital gain.While you could certainly do the multi-step journal entry you described, it’s easier to just create a separate expense account for the rate cap payment received.

Lots of people make lots of money in Baltimore and the margins are really good for purchases and subsequent rentals. 

But once moving the debt off the personal credit report and transferring to the business credit report, or negative items are removed, the 'lower credit score client' ends up getting improved personal credit scores as added benefit to working with us, and that translates into more access to business credit on subsequent application batches.

Project must reside in an eligible rural area (generally a population of 35,000 or less)  ( Check USDA Eligibility ) Tenant income cannot exceed 115% of the area median income (AMI)Monthly rent per unit may not exceed 30% of 115% of adjusted AMI and, overall average rents may not exceed 30% of 100% of adjusted AMIMinimum term/amortization 25 years, max term/amortization 40 years, or any combination thereofMaximum 90% loan-to-restricted-rent-value (97% for non-profit)Maximum 70% loan-to-cost (no loan-to-cost restriction for USDA 515 acq/rehabs) Virtually all 538 loans are done in conjunction with LIHTCMinimum 1.15 all-in debt service coverageTypical prepayment provision is 10% penalty in year one, declining 1% annuallyEquity requirement of at least 10% of total development cost (3% for non-profit)Rehab of at least $6500/unit—project must have at least 5 rental units)You might also look at Bellwether Enterprise Real Estate Capital and Churchill Stateside Group as another source of information.Good Luck!

Subsequently, they paid off the other lien and dropped the appeal so we never experienced the entire process.