Fred Heller is right in that an estate attorney needs to review deal for Widow as we don't know how things are titled, is there a trust involved, is there a will and or if there is going to be fight over Husband's estate from family or anyone else.

Make expeditor contacts so you know exactly what is involved with obtaining permits and how much it will cost.  

But without the words condo being removed from the title the FHA would not approve.So now we are working for another extension and switching over to a home style renovation loan in hopes that we can get approval there, as HUD will not be involved.

I’m curious on the structure / finance of a deal when there are multiple investors involved.

I am no legal expert so I do not know what else would be involved in something like that but it seems to be something that could be done.

The clutter in the pics is her stuff, she is about to have an estate sale before the house sells4 bedrooms, 2.5 baths, 2800 square feet, living room, formal dining, eat in kitchen, family room, nice yard that is about 6/10th of an acre, great area of high value housingFrom the pics it is obvious that many things have never been updated in the 53 years the house has been around.

He probably is not aware of the full scope of work involved.

As far as structuring goes, you can set the terms anyway  that makes sense for all parties involved.

We are willing to put in the offer, but just reaching out for any advice for or against dong so, and also what do you think overall, is it worth getting involved with that inside knowledge from the current resident?

Hi Guys, I am interested to know the strategy to buy +60% of controlling shares of Co-Op building in order to convert it into rental units, has anyone been involved in this kind of deal?