@Frankie Paterno In most places you will likely find that your $1.2MM will go much further with existing built as opposed to developing.

If your mortgage and existing LOC was 230k or whatever it is just pay those off with this new first lien Heloc of 340k.

If there is an existing lender not agreeing in writing to accept payments from the LPO buyer, then you are in violation of the statute -- and it is a very toothy statute -- vs the seller/landlord side only thoughWe are getting ready to get one in place because the seller is demanding it and my client is the protected buyer.Yes -- you must vet your sub to buyers -- some should not be anywhere near a wrap transaction.Stay safe out thereAlan

That's it, but a) print out a page for each property you think is comparable, b) make the list of repairs long and inclusive of everything you've done. c) Put larger items first like kitchen remodel......and don't just say 'kitchen remodel', list things like 'custom backsplash tile/Bosch appliances/recessed can lighting/pot filler/etc. d) Cite the price/value of the work done, and don't be afraid to be generous.

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

However, there aren't any comps of new construction in the area beyond land sales on brand new neighborhoods, and existing sales of older 4 / 2.5s are in the high 200s.

Pricing tools that exist on the market are decent, but you also need to know how to control it, otherwise, it will go nuts with unrealistic rates far out and extreme last-minute discounts. 

Also consider all lenders will require to review your insurance when underwriting a loan and it's likely a violation of your existing loan documents to let the properties go uninsured even if they didn't require insurance escrows. 

This is literally the entire reason these companies exists - to get this stuff right.As for why, I have no idea why there has been an uptick.

I wanted to offer him about $50K over what is remaining on the mortgage and go through the 60-90 day process to assume the existing mortgage.