Analysis Paralysis - preparing to commence to begin to start to plan.Investing takes Ready, Fire and Aim to adjust! 

Yesterday we received the Cash Commission Agreement from tenant rep asking for 4% commission of base rent over initial term (10 years term, which we are ok with) with 50% due at lease execution and 50% at rent commencement.   

Examples of places you can find them:If they pulled a permit on a house the notice of commencement may include their phone number.If they were in a lawsuit and represented themselves, most forms will include a phone number.If they were a landlord and did an eviction, the 3 day notice or complaint will usually have their phone number.There are quite a few areas the info will show up in public records.Social media is the hands down best way to locate people.

Since they are "nonpaying tenants" owing to the situation,  if you owned the home then upon having your right to evict restored you would at that point have to commence the process;  but first offering them a payment plan most likely based on whatever rules are most strict in the particular jursidiction you are in.   

You can start the process now, but the actual work is unlikely to commence until the summer.If you find someone who is ready to jump on it right away, it's someone who somehow does not have enough clients.

this is clause was included with agreement for a loan:The Borrower is required to pay a refundable fee $2,600 for the loan acquisition cost whichinvolves all direct and indirect expenses incurred before funds disbursement will commence throughwire transfer.is this normal?

Originally was quite a bit higher than I was expecting/hoping to pay but after getting more feedback seems like it is in the right ballpark.Great point on the ROI front and supply/demand - I’ll discuss further with a real estate agent and get a feel for current market.And very good advice on the draw schedule - I haven’t had experience working with any contractors, but definitely makes sense to pay them based on certain milestones and I will be sure to ask on how their typical payment/draw schedule works before agreeing to commence work on the project.Thanks again for the feedback and advice!

So you could work out the refinance on the one side, and hold cash with the cash out...then use the other new build mortgage to get the building commenced, while saving cash for making payments or problems that you cannot identify right now.

I have been going back and forth in my mind about how to go about rehabbing BOTH units of a duplex with tenants in the upstairs unit.I thought to commence the rehab on the bottom, offer them to move into it once remodel is done (with no increase to rent for the remainder of their current term) then rehab the top unit and move in - OR - rehab the top unit while they live inside, for a decrease in rent for the duration of the construction.

All payments made by Tenant to Landlordafter the tenancy commences, no matter how designated by Tenant, will beapplied as follows: first, to any outstanding amounts due for damages/repairs,utilities etc.; second, to any outstanding service charges and fees from priormonths; third, to any rent outstanding from prior months; fourth, to anyservice charges or fees due in the current month; and lastly to the currentmonth’s rent."