This is a program where 1st time home-buyers who make at or under a certain % of the area median income (say 80% or less for example) qualify to apply for the grant, certain banks receive grant funds so you would need to ask your bank if they participate in this programRehab costs: $40,000 (lot of sweat-equity)Appraised: $385,000NEW PITI $1785/month: Refinanced into a loan of $260,000 ($325,000 with 20% down, 30 year fixed rate portfolio loan @ 4.375%) and pulled out $61,000 ($260,000 minus $191,00 owed on old loan minus $8000 closing costs) I could have taken out a higher loan (due to the appraised value) and received more cash-out $, but I wanted to be conscious of what my new PITI would be and make sure I could cash-flow going down the road.DetailsBefore Renovation- 864 sq ft - 3 bed 1 bath ranch style home, , attached 2 car garage, 1/3 acre yard- Purchased foreclosed for $220,000 with a 30 year fixed rate loan @ 3.875% - PITI $1385/monthI worked with my local bank to build in renovation funds into the actual loan, where I would pay to have work done to improve the property (new roof, heating system, flooring, etc) and the bank would inspect the work then release funds to me to reimburse for the cost of each repair as they were madeAfter Renovation- 1278 sq ft (finished basement added 415 sq ft)- 3 bed 2 full baths- Appraised Value $385,000The first 6 months in the property was spent doing new roof, heating system, refinishing existing hardwoods (hidden under grey shag rug), new SS appliances, new paint inside and out, finished basement (added another living room, office/bedroom, and full bathroom)For the refinanceI was quoted by my local bank for a 30 year loan a 4.875% interest rate. 

We have our eyes set on a vacant office building that has had some flood damage.

Hi Dan - I had never heard of this mortgage product - thanks for the tip.

My realtor office requested the commission from the other Realtor and now the other Realtor is calling me to tell me that my Realtor requested commission and because it, now, she wants me to either move in or to give her an additional deposit, my question is, since I only gave her 1 month deposit and 1 month penalties only and the contact states that the penalties for an early termination of the lease is 2 month, I am obligated to move in to the property or do I have to give her an Extra month penalty in order for the other Realtor pay my Realtor his commission?

On 7/16/2018 officers visited the home to serve outstanding warrants on drug trafficking charges on the tenant which turned into officers getting a search warrant of the property.

I'd say knowing who I should not go with and why is equally valuable, so I appreciate that tip. 

I'm not a 1031 exchange expert but have bought and sold 6 properties this way in the past 2 years (1031 exchanges)Would be glad to help how I can - can also give you some tips on what I've learned may be beneficial for estate planning as far as navigating Assisted Living/Medicaid HCBS etc - (Tip - unless you want your mother to go private pay in assisted living and drain all your money you may want to start getting assets out of her name now - guess it depends on where she'd want to live and how much you want to spend) -- Anyways we've been trying to become experts at our facility on HCBS and the different waiver programs (specifically Physically Disabled - which your brother may fall under at some point and Frail Elderly which your mother can fall under at some point)

Your best bet is to sit down with a loan officer and discuss your plans  - they will be able to tell  exactly what you can and cannot do  - you may also want to consider getting prequalified so you know how much you can buy and what your payments would be - this is especially useful in running your numbers to see if a property will cash flow or not.

As I am sure you know they need to be local to you as the co. office has to have a physical location where you are both working from.

I'm interning in brokerage at Marcus & Millichap this summer and I'm looking for off-market NNN deals for an exchange buyer.If anyone has any tips for finding off market deals I'd love to hear them.