This is essential to identifying your potential team members.Get the best of the best real estate CPA and attorney on your team.Two Great reads, I bought both J.

Eric,Presuming your contract is assignable, you are essentially auctioning off your contract.

Its essential as a rehabber that you have a look at all possible comps so you know the worst case, too.

I consider Property A an "A" because it is in a "recognized" school district, established neighborhood, homes are well maintained and manicured, close access to shopping, entertainment, freeway, etc.

My original plan has been to purchase a town home in Texas and then live in it off of the saved up cash flow while in school so that I can essentially live there free.You said in your post that a conventional loan down payment was 3.5-5%.

Check their response in the district clerk's office.

On the partnership, which is an LLC, our lender allows us to bring at least half of the 20% down as a Second Note from Private Lender as long as the DSCR (cash flow essentially) stays in their criteria.

Want to get your advice on whether I should pursue this deal, its a huge project.I have been offered first shot at a 10K square foot lot zoning LR2 , which essentially allows for cottage, townhomes, row, or apartments two stories high.Its in a good neighborhood next to a park and the neighborhood next to it is one of the nicest in SeattleWe are close to finalizing price and terms.

From what I've learned, there's some great advantages in investing in properties in historic districts and properties.

My thought was to essentially amortize the loan at 10% with a 1 year term and make interest-only payments during rehab, then repay the principle upon selling.