Do you want to keep the existing tenants and just sign a new lease.

The tenant wishing to expand was recently acquired by a very large nationwide medical corporation.How do you work out new leases with existing tenants, when you're not yet the property owner?

Do CODE VIOLATION SEARCH.9Calculate MAX Bid PriceOnce the properties are filtered with the above criteria, set the max bid price between 60% and 75% of Fair Market Value or ARV10Bid StrategyDetermine the low starting and maximum bidding amount, to be agreed by GENERAL PARTNERS11BiddingEnsure 5% of max bid price is in County bidding bank account 3 days prior to bidding12Property Win BidEnsure funds are wired to County bank within 24 hours of WIN13Send File to Lawyer/Title SearchIf property is still occupied, have Legal file a “Writ of Possession” to get former owner removed, Perform Extensive Title Review, Negotiate any existing Liens14Receive TitleReceipt of Certificate of Purchase, Certificate of Title to occur within 3-4 weeks from date of winning Bid, continue follow up with County until received

@Peter C.This is one of the main reasons why HOA and by-laws exist. 

Both loans are closed at the same time to have enough funding to take out the existing FHA 1st mortgage.

You are welcome to pay to have a certified, licensed and insured company come test for the existence of Asbestos within the wall and window unit on the North side of the residence before replacement.

My knowledge of the market is very limited to non existent to be honest. 

Knowing where the owner is coming from allows me to pivot when needed or understand their true number and what financing options exist with them. 

You you just missed the back to school summer rental season. since you live in a good suburb with good schools, that's going to be your best bet for renting out your existing home.

The benefits of commercial loans are that you essentially wipe the slate clean with a blanket loan for your existing portfolio and can using Fannie/Freddie for your next properties.