Find out what zoning applies and see if it allows for the conversion.

I'm glad you decided to join up and get involved in the conversation after lurking around for a while!

BTW when you hire an attorney one of the discussions should be is when you want them to memorialize items and when you don’t… These guys and gals will charge you a ton to write down the conversation the two of you had.

Your comments are uncalled for, and add nothing to the conversation, so why do you make them?

Conversely, if you are purchasing a property for 200,000.00 and the appraisal comes back at 180,000.00, the bank is still only going to lend you 144,000.00 (making for an LTV of 72%) and you will need to come-up with the balance.Of course, if the delta between the sales price and appraised value is too large, many lenders will elect not to fund at all or, at the very least, will have many more hoops through which you need jump to prove the deal is fair.

@Joe O Great conversation guys very insightful..

She gave me the landlord's number and I had a lengthy conversation with him.

I could use some suggestionsAfter contacting a home owner a few weeks ago and coming to an agreement on the phone, we left the conversation with him trying to get his final payout from the fha mortgage company, and me putting a lock box on the home (with his permission) to stop intrudersHe said 7 to 10 days in my second phone conversation with him.Two weeks later i call to see where we are at and no one answers.I left a message for the home owner to call me back , this was 5 days ago.Kinda feels like i am getting stalled right now!

One of the poscasts(I can't recall which) was with a wholesaler who approached this piece of the conversation as such - "I or one of my partners will be buying this property with cash."

Surprisingly our conversations have been very easy, I'm guessing cause he's stoned...I am pretty comfortable with my screening process as I check: Credit, criminal, evictions, and bad checks.