We abated the walls, and that added $10,000 to our costs.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Even if I were found guilty, the cost would be in the thousands, not in the millions.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

No requirement to be in the inner circle other than to get the 100% funding up to 65% of ARV, otherwise it is 90% of acquisition cost + 100% construction costs up to 65% of funding.

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

Is saving the fee a PM charges worth the potential thousands in cost and headaches?

FYI, most of my CFO clients borrow from HMLs that will lend up to 100% of their rehab costs. 

  ( Maryland )  Small parking lot 12 cars plow and salt $450 . 2 in trigger Costs are regional for sure 

Skip forming a corporation for now—it won’t protect you from personal loans, and it adds unnecessary costs.