I'm curious, when you're budgeting for actual construction costs, do you have a rule of thumb you use to estimate?

“Few, if any lenders are going to accept this secondary lien position,” real estate agent Then said, so the tax-lien associated with the HERO improvements will have to be paid off, in most cases, at the time a sale closes or the mortgage is refinanced.The question becomes, who will pay it?

He said there is only one rule you need to know about being a landord "if they can not pay one months rent they can not pay two".

If we decide to make an offer, is it possible to either 1.) make the sellers put the full price of repairs in escrow (even though the other unit holders will benefit from the improvement); or 2.) make the offer contingent upon the condo association putting a certain dollar amount in escrow to handle the repairs; or 3.) do a combination of 1 and 2 saying that if all of the owners don't put a certain dollar amount in escrow by a certain date then the sellers pay the full amount of forfeit the deal?

Medicaid rules keep evolving, and states all differ in how they set up their programs, some do it well, others just create big bureaucratic mess.

I am looking for more info on rules and legality as well, to ensure I am doing things right. 

The area around me is improving and I became interested in what it would take to buy my building.  

Therefore, your purchase price + any possible renovations/improvements should be around 50,000. (2% of 50,000= 1,000). 3.

@Jay Hinrichs   Wasn't trying to imply not to follow the rules of the FREC and NAR Code of Ethics.

The 401k loans are not as easy to utilize and can be limited depending on the rule of your plan and group.Best of luck, can't wait to hear how this goes.