There may or may not be a pre-pay penalty, obviously I would negotiate for no pre-pay.- at year 7, can i extend balloon or notNo, unless it's in the contract or the seller agrees to it. 

The buyer signs a representation agreement with no locked in period, with the flat fee buyer agency.2.

It was a buyer’s market at the time so negotiating involved asking the seller to pay closing costs and being patient with our FHA loan.

Pick 2-4 locations, get no more than about 6 deep in any but no less than 2 deep.

I would like this number to be lower since it's going to cost $120k up front for down payment and closing costs.

Pace is no different than the leaders of Hamas or the Sinaloa Cartel in that manner.  

The reason people hesitate to pursue ground-up construction here is because it's costly, unless you're building a two-family home where you can live in one unit and rent out the other.

@Duarte MarquesPossibly but highly not recommendedFor those with no real estate experience or experience in taking on debt, it’s not easyTo do it also with little to no down payment or reserves in most occasions will end in disasterReminds me of when in high school a friend used to let his dog drive his car.

I agree with John, we are seeing renovation costs of $150k- $200k for a basement unit and $250k + for a coach house. 

The home the owner is wanting is reasonable enough for the cost to build the home would make the "cost" of the property to be bought at a discount.