If I DON'T buy the apartment, yes, I'll still be able to rehab many houses w/ the 200k, but then I don't have a long term plan in place ie: the apartment.I was curious to know how you guys draw the line in your play book in order to do both; rehab + buy to hold.

thanks for the replies...Steve...I think being smart in this case means having a lawyer draw the lease option or the contract up and making sure it's tight.I'm assuming a lease option is a flexible thing and I can mold it to suit the situation with the right know-how.

I count deals like so:- Every time I close on a loan/sell a property- Every construction draw I take out on a rehab- Every time I receive a rent check - Each time someone I have ever talked to closes on a dealThis makes me look more experienced and polished as an investor.:) On a serious note I count a fix and flip as one deal and do not understand the logic of calling it two deals.

Really liked the area and you will have a local draw of weekenders.

You will have to disclose the previous mold, but if you don't draw attention to it, and if there is absolutely no indication it was ever there, the buyers shouldn't have much of an issue.Just my experience...

It is very common in small Independent hotels --fully paid for --- others do --if for any reason frustrated and wants to get out -- make ask for 30 % down - Some times --they take a second mortgage(10% ) -- behind bank loan ( 75% LTV).As far as the Process--its simple --have attorney draw up NOTE and Security deed to be recorded at the court house.

The properties were subsequently sold to another buyer for $52 million and Naldi sued, claiming his right of first refusal was violated.

What exactly is the draw for you to want this property so badly?

I still have to pay, but it allows me to sign up other people for the service.For drawing up Lease Options, Notes, Closing transactions, etc...I go to another attorney.

Don't expect REOs to help much if/when you get an unlucky draw.