@Sharon Jones A family member could translate but I can't rely on that.

Also keep in mind that Pittsburgh is a Historic District and that will come into play, if you get a permit and want to alter something

Always remember to translate the terms to your deal to see what the expected financing costs will be.  

This schedule may be altered due to legal holidays or severe weather.

BPers from their areas can chime in to verify but I read that the going cap rates in LA, NYC, and San Francisco are something like 2-3%, which would translate to the 0.2% rule/test!

I don't care what you're buying, when your cost of capital (They also give him 75% LTV) is 1.85%, almost any going in cap rate is gonna translate into an incredible return over a 2-5 year horizon.

@James Leos you wrote:rate will be about 4 points on top of the adjustable rate LOC I have (which is based on LIBOR or the equivalent U.S. benchmark)So, no, I don't think that translates into LIBOR + 4%. 

The Second Party may, at his sole option and expense, make alterations and improvementsto the property, as in his discretion, are necessary and advisable.9.

The big mistake was I have a formula for buying, and I altered it just to make a deal.

I had set it up assuming 80% primary loan with a 10% seller carry, which would translate to $262k in annual debt service on 30 year loans.