If you did finance some of the purchase using a non-recourse loan, then you need to read up on UBTI/UDFI and there are some taxation benefits that the IRA can achieve since it now owes taxes in that scenario.

Here’s what made a difference for us:🔹 Mortgage Relief – Many lenders offer disaster relief options like payment pauses or loan modifications.

Then any rental income you could obtain from that property could be used as an income source for loan pre-qualification.

Quote from @Devin James: Gross Margin is an important calculation for developers/builders.Gross Margin = Gross Profit / RevenueWe shoot for a 20% gross margin on our New Construction HomesReal #’s:Home Sales Price: $374KClosing Cost: $18,700Cost of Construction: $258KLand Cost: $30KGross Profit = $67K$67K/$374K = 17.9% Gross MarginCame slightly short of our goal of 20%Homes Values and Build Costs are constantly fluctuatingI wish we had a crystal ball build larger homes. average new build in our market is 2200 square feet, 4 beds, 3 baths, 2 car garage and sells for 515k. construction costs lower if design is good and find the median or average home sale price and push that up. my guess is you built too small. 347k is cheap. we target 429-479k price range in columbus ohio for single family homes and also only purchase close to urban core where premiums are 20% higher and we build smaller like 1500 sq ft where price per square foot goes up. 

.~ I will most likely purchase the first home (multi-family) using a bridge-DSCR loan combo or a FHA203K (3.5-20% down). 

We realized the screws we were using were too small for the door hinge and we just had to finish that small bottom corner.1/26/25 - We went to Lowes and picked up some 1 1/2 inch door hinge screws (sound in the screw/nail section) and went back to the rental.

If there is even a small chance, I would disclose.If I remediated the water issue and confirmed it's no longer an issue, then I would not feel the need to disclose that.Talk to a Chicago attorney to get the best answer....who would ultimately be the one who would defend you in court...when in doubt, disclose, and you'll be better off.

While there are some who commute to Lexington from those towns you mentioned, the numbers are relatively small, with most coming from Richmond.

Conventional Loan

Through a hard money lender, but I will take out a DSCR loan in March to refinance.