Review title commitment and survey to make sure to deed restriction and/or HOA in place that would stop you from doing 4 plex2) Meet up with City/County planning office to make sure 4 plex can be build and lot has enough parking spot . 3) Talk to an architect to get an initial foot print, layout and foundation type (i.e. pier beam or post tension slab) 4) Bid out to get estimate for both soft cost (survey + construction drawings + Permit) and hard cost (cost of building)  Without #3 you really cant get hard estimate Problem is that you may not enough time to hash out #2-4.. prior to closing the land .. 

The next thing you need to do is get blue prints made to what you want to do, get estimates. 

It is called a HUD1 because the form is printed by the Department of Housing and Urban Development (HUD).

No matter how bad the recession. our socialist minded government will always print more money do fund freeloaders.

I intend to handwrite the addresses, but print the letter on normal white paper. 

The pendulum is in the exact opposite phase right now, for everything that didn't need to be verified at all in 2006, now it needs to be verified 3 different ways (80% of the paperwork required you actually didn't even see or provide because it was on the back end, a typical printed loan file is currently about 4 inches thick, compliance costs to originate a FNMA mortgage are about $4000 to $8000 depending on who you ask).

I wish more people read the fine print and calculated the true costs like you've done. 

Is there any mortgage fine print I should be aware of?

@Keith HebertYou ‘ve gotten alot of good advice on here, my advice is pay top dollar for high value/low frequency tasks and look at outsourcing your low value high frequency tasks.Pay a CPA to do your taxes and review your books on a quarterly or annual basis-get a bookeeper (there is alot of good 3rd party bookeeping services that work remote) have them do all the data entry/recs and set up checks so all you have to do is print and sign them.

You submit the application for the loan on the tsp.gov website, then you have to print out a two page form, fill it out with your bank info (for direct deposit), have it notarized, and then fax it in (of course because it’s the government they only accept snail mail or faxes).