I've heard that April 30 is the last date to "choose" a property, but I'm not too sure what that entails.

This would entail taking this deal to a mortgage originator who would originate the paperwork, get all disclosures signed, and make sure the financing does not violate HUD guidelines (if you think this is uncalled for interference by a now socialistic leaning government in private business affairs you are right!).

I honestly have no concept of what that might it entail if there was a need to replace it.

Selling as a condo would entail ownership of the land by a condo association, so you would still not retain ownership of the land.The way improvements (buildings) are seperated from land is by selling the lease estate.

I'm going to be 100% honest with you, I have no idea what exactly that entails.

Suceesful real estate investing entails trust.

Interesting discussion.If you want to consider housing from a purely investment point of view, home ownership is certainly much different than other investments in large part due to the transaction costs, maintenance costs and information costs and taxes.Buying a stock or bond or commodity as an investment entails a transaction cost at both the time of purchase and sale - usually small relative to the size of the transaction.

It also includes things such as advertising, taxes, insurace, property management, water/sewer, electricity, rubbish and snow.We are also looking to serve as our own property managers for this building but are unsure of what sort of time that would entail.

You will now get a full course in landlording.You'll learn a lot living next to your tenants, and if you can succesfully overcome the diverse challenges that entails, you'll go far in this field.Good luck and keep us posted.

I entered several deals into their platform and response was slow and usually entailed one sentence.