Feel free to tag me or Private Message me for any other questions.

Distance really isn’t an issue but if you’d rather be present for your first deal then as mentioned above you could go in with another investor and partner on deal, just provide the private money loan to an investor, or a hybrid of the two.

I am planning on getting a building permit myself for a conversion I am planning on doing.

If we did a deal like this I would want to use private capital (short term money) complete the rehab and get the rentals rented in 12-18 months and then get a bank portfolio loan.

I have hard money available and *might* have private money.I'm now looking for those who have the resources I don't  - design, contractors, etc. 

I went to several banks and private lenders before choosing Investor’s Bank.

Sometimes this alignment can be fixed with a simple conversation with a very good attorney and the city's attorney.The real question is will it be worth the expense and potential discrimination that could follow from the city - I have heard stories where the city will have their inspectors get very rigid when they do not get what they want to make the owner's life more difficult. 

Your best bet is to bring the bank into the conversation and make sure they're okay with what you're working on with the owner.

The response I received is as follows "Your Appraiser is and was aware that sales 1 and 2 (the two units in my condo that were used for the appraisal) have lower level finish It was included in the GLA  due to the fact that these units were all finished at the time of conversion (the condo was created and basement finished in 2005 when a developer bought the former mansion and split it up into units) with similar material and quality.

I read quite a bit about Hard Money and Private Money Lenders, as well as the pro's and con's of using them.