If anything the program has reinvigorated me to get back into the game.

I'm about to refinance my investment property under the HARP program and was wondering if I should go with a 15 or 20 year fixed.

Eric,If you would read my post, you would see I fully support the Habitat program.

First get qualified for financing, then shop for deals ;-)If you do FHA you may be able to find one eligible for 203k program giving extra cash in the loan for rehab.

How are you on BOCA, OSHA, Environmental Engineering, Marketing, Planning & Zoning aspects, obtaing zoning variances, politics in the area, working with utilities and thier engineers, financing projects......I could go on....Point is, you won't get this out of a few books, universities offer degree programs and new grads still are only prepared to assist an established developer.Best thing is to work with one and learn.Many developers were GCs before they started, probably started with a small number of lots and built in phases or got an existing area and built to suit.

If outlets, wiring or the circuit panel were under water, they may need to be replaced, even if they appear to be in decent condition.

Joel, my partners sister works at a local credit union and is working on some programs for us, otherwise it will be cash.

Anyway, in getting the family involved or aware, make sure you don't make it appear that you need the family's approval for the deal, that will insult the owner as not being in charge of his own affairs.Best approach is to ask about family, what the kids do now, just be friendly and ask what they think of him selling the place.

But I'd be grateful for advice from someone with more experience.Here's an example property:4-plex, 2bd/1ba unitsAsking Price: $170kRental rate at leasing office (other identical units) is currently ~$575/mo.Realtor summary shows estimated gross income at $28k/yr, estimated NOI is about $18k/yrBoth property and the community look to be well maintained, HOA appears healthy.Some readily apparent risks:*With 25 other identical buildings, it may be competitive to find tenants.

What are your thoughts on the reality of this program?