Thank you.I was thinking about option #3 & #4.unfortunately the architect seems to be charging a significant amount for any design changes, that's what lead to the failure to communicate in the beginning.Here's some numbers:Floor Plan Existing 1,085 SFFloor Plan Addition 1,183 SF2-Garage 441 SFDesign Cost Rough $10,000No scope of work define and No specifications.needless to say the Architect of record is no longer associated with this project.I think I will approach them with option #4 to scale the scope of work down, and incorporate option #3 to find way and cut cost.Thanks You very much.very Helpful.Cheers

I work for Keller Williams Realty Downtown, LLC as an associate broker.

I just received a message from the Rhode Island Association of Realtors that said:"The real estate conveyance tax that is paid at closing by sellers of homes and other real estate will increase by 15% on July 1, 2014 unless you act today.Article 12 of the state budget will increase the tax $2 per $500 of the purchase price to $2.30 per $500.

We are in Miami, FL so we will be attending Dade Real Estate Investors Association on June 18. 

I've been moving like the wind fearful of losing the deal but you are confirming my suspicions, that the super tight timelines are largely idle threats.

It's a nice physical break from playing on the ipad all day...Of course I love all the strategy involved with the financing, acquisition, and development associated with bringing a newly acquired property to its highest and best use.

My recommendation would be, don't pay to form it and pay all of the fees associated with it until you need it. 

In buying a primary residence, are closing costs and associated fees ( lawyer, inspector) tax deductible?

Robert, I took my classes in person many years ago so I'm not familiar with the online options.However I do recommend that you contact the RI Association of Realtors at 401-785-3650 as they offer classes to agents and brokers and are probably familiar with which classes are acceptable for your broker application.It looks like they do have some online options, and McKissock is linked from the RIAR online training page at http://www.riareducation.com/ContinuingEd/OnlineTraining/Default.asp so that's a good sign.

Before doing any deal you have to really calculate all of the costs associated with owning the property.