When relying on LIHTC to make the deal pencil, yes developers wait BUT only if they have the resources to wait and only if the property owner is willing to not close on the property until the project is fully funded.

If so, it would make sense to figure that out first before deciding on a specific area.

We don’t use the 70% rule for anything except to decide if we’re going to look at the deal… and even then we just want to see if it’s close before we spend time running numbers.

The owners name is Allen McHenry and he has transformed the property over the years.

However, I’m new to navigating such a situation, and I’m looking for guidance on:Collaborating with neighboring property owners to reduce costs and share resources.Structuring deals involving land contributions and joint development efforts.Attracting capital partners for projects like this.I think this could turn into a win-win for everyone involved, but I want to ensure it’s planned and structured correctly.

Hello everyone, I purchased my home two years ago, and currently, I have a tenant renting a room for $800, which helps cover my mortgage. This was my first property, and while it's been a great learning experience, I ...

I’ve built strong relationships with agents, contractors, and other investors in the area, and one of my contacts informed me that the owner was considering selling but hadn’t listed the property yet.

Simply put, many of these distressed properties were put under duress by the former owners financially, not necessarily the location.

Nor any commercial lender, because the previous owners ran it as kind of a retirement hobby and the historical P&L's were crap. 

You would want to look for an owner that has a loan through a bank or credit union or one that has no mortgage.