Going to meet up with him soon to discuss in greater detail.

@Account Closed pm for details

I don’t know about IL, but many states require you to provide details on how the security deposit was used.

As far as the seller wanting rent, that could be them getting the security deposit back if that is not detailed in the contract. 

He held my hand through the finer details of getting this thing done and asked nothing in return! 

Hello!I'm looking for some residential construction intelligence in the Charlotte area.  Specifically the current competitive rates for new construction trades and materials (e.g. foundation, framing, plumbing, electr...

We're now interested in the dirty details that people have gone through using the 203k loan.

First step is a very rough estimate to see if the property is worth evaluating further, next is a detailed estimate on your own when you go out to view the property if you do so that will decide if you want to make an offer. 

I have been watching every YouTube video I can, reading as many books as I can, and talking to every investor I encounter.

A good QI will ensure that any details of a Construction 1031 are taken care of, so I would find one you trust and then consult them on the best course of action.For a little light reading, here are some articles on this type of exchange: http://www.exeter1031.com/construction_1031_exchan...https://www.1031exchange.com/improvement/https://www.cwscapital.com/insights/understanding-...Best of luck!