Our first DEEP value add multifamily project here in Radford, VA just stabilized and refinanced out of the 12 month construction loan. 6 unit apartment building all 2x1 near Radford Campus.

Purchase price: $140,000 Cash invested: $550,000 I am in the process of building a 2,800 square foot new construction duplex!

As I build my revenue I plan on expanding to buy and hold deals, so I need something flexible.

In Chicago, there are quite a few buildings with illegal garden units, and I thought it might be possible to live in one of those while I'm trying to make it legal with the city but would that be against FHA guidelines or conventional loan requirements?

This way you have a local physical bank for checks and other bank services, while you start building a relationship with a potential lender.

Get rid of debt, build a budget, and save.

I'd say it's hard to get both. the best construction finances are on biggerpockets. we give 5-10 to our clients to consider and talk to whether they use them or not all the lenders know who we are and we form relationships with all of them. most are active on biggerpockets and can help get people out of construction even if they don't know anything 

Then you will have your inspection fee every three years that will vary based on the type of building and how many units.

There is the those that have to sell and yes they are probably selling it distressed or a forced sale- but as you mention if you look at this listhttps://www.nmhc.org/research-insight/the-nmhc-50/top-50-lists/2023-top-owners-list/These companies may have some strategic liquidations but they can ride this thing out.It’s the syndicators who promised people cash and took at short term debt because they played the lottery thinking they could flip a multifamily building thinking prices always go up and cannot now handle the debt burden.

Pulling out of building additional buildings we had planned.i.