My wife does the staging for this investor, which I think she did a great job with a very minimal budget.Out of respect of the investor, I cannot disclose the numbers other than the budget for rehab, which was approximately $65k.  

8.8% seems excessive unless this is a sub $50k property.

This is the very early stages of this deal and I haven't even seen the interior of the building or spoke with the current owner as he has been out of the country.

What I'm doing is devising ways to increase my Sellers List because right now in the beginning stages, it's extremely difficult to find Motivated Sellers.

The tax liens are sold to a trust which then services the payments, repays investors and forwards any excess to the city. 

Also the trunk is very small compared to some other sedans.It would close to an even trade, possibly having a little excess equity.

Giezi Guevara at this stage in the game, the buyers loan should have already gotten a full blown approval from underwriting so depending on the lender there should be NO reason why this closing should be this late.

I live in Miami (most of the time) and this market is a great example of that, we have alot of people moving here, decent (good paying) job growth, but there are 25,000+ condo units in the greater downtown area in some stage of development (proposed, pre-sale, under construction, etc.) to put that in perspective theres is currently a total of ~24,000 condo units online. 

Regarding team building which do you think is most important in the beginning stages of real estate buy and hold?

At which stage do you guys think I should open a business bank account?