The seller then assumes the first lien position as the mortgage holder, allowing you to negotiate the interest rates, terms, and payments creatively.

Depending on your time period for construction, a heloc could be a great option as it provides flexibility and then you can always reuse later down the road.

. :)*I'd estimate moreso between $195-$250/SF to build, depending on finishes.

Otherwise, it would depend on the maintenance requests and what is observed during them.2) Require them in writing, so you can track them!

This will be at a higher rate than if you had long term tenants.

As to financing, special use permits depend on the term allowed as to secondary financing, a special use permit for a property not properly zoned does not always qualify.

@Robert RuschakNot an attorney but I asked mine out of curiosity and “it depends”If for example the price was supposed to be $500k and marketing, advertising and discussions were based on this and the contract accidentally listed $400k, you will most likely not get it for that amount - of course it also depends on the state etc.This is a lot different than you offering $5400k, them accepting the offer then the contract was written at $400k and they come back and are like oops.

Did you have to renovate it or did you find it ready to rent with those rates?

With a $5,950,000 asking price and only a 5.05% cap rate, after just calculating the value, the property is over priced by over $2 million!!!

Also, a small claim might be possible to file in small claims court without a lawyer depending on how small claims work in that state.Also, why would a lawyer care about the amount of damages?