The nuisance and abatement officer is involved, but they have limited resources and he is pretty much a one man show in handling these issues.

Nobody wants their house sitting 98% done for 2-3 weeks because you didn’t order your cabinets in time and they couldn’t measure your counter tops until they were in.Now I take all this information and put it in reverse order on a calendar working back from the finish date.

I'm not sure how this would help you, and I'm not sure what you mean by "get mortgages on the full value of the 2 houses".All mortgages are going to be limited to a certain Loan-to-Value (LTV) limit...Usually around 75% for a residential investment property.

My experience is limited, but I hope to contribute as is feasible as I take my licks in this arena.

There are limits to going lower and any of that money that isn't spent on property will be taxed (called the boot).Things get tricky when you do combos as an option, then you run into limits of how much they can be worth etc etc.

You could legally form a Limited Liability Partnership that would give you some protections.

His exposure was limited he said.

The deadline is very strict, and the custodian must receive the money by the deadline.If it's anything other than A or B - there could be some important complications.Once you acquire the property, ideally you should limit your personal use to no more than the greater of: 14 days, or10% of the total days you rent it to others at a fair rental price.If you exceed this number, your tax deductions will be limited.And when I say "personal use" it does not mean just you.

@Aaron cayabyab - FHA Loans have loan limits.

On a residential mortgage they will limit you to a certain debt-to-income ratio (DTI).