My thought process is, if I could come up with $800k on a refinance, I could come in on a cash offer on the hotel for sale and get a much better deal.

nice, looks like a great deal

The combination of lower debt costs and rising cap rates is reinvigorating investor interest, particularly in prime urban locations.

What made you interested in investing in this type of deal?

@Bob Foglia  Here is what the EPA says about meth Voluntary Guidelines for Methamphetamine and Fentanyl Laboratory Cleanup (epa.gov) Previous threads have reported it is costly but alot depends on how contaminated your house is.

Heres the numbers:  Borrower(s)Subject PropertyRate Not Locked 9/30/2024 Sales PriceDown PaymentLoan Amount30 Year FixedContract DepositSeller ConcessionNMLS#  $670,000.00$167,500.00$502,500.007.000% $0.00$0.00  Bank Origination Charges Estimated Title / County / State ChargesOrigination Points % $ - Owner's Title Insurance $ 4,415.00Discount Points % 1.500% $ 7,537.50 Lender's Title Insurance $ - Underwriting Fee Title Search $ - Appraisal Fee $ 650.00 Title Services $ - Credit Report Services (1) $ 299.00 Alta 8.1 $ - MERS Fee $ 25.00 Recording & Transfer $ - Flood Certification $ 8.00 Notary $ - Tax Service $ 85.00 Settement Fee $ - VOE Fee $ 150.00 Total $ 4,415.00 Total $ 8,254.50 Prepaid Interest / Items Potential Additional CostsPer Diem Interest 15 Days $ 1,465.63 Rental 1007 $ 250.00Home Insurance $ 1,800.00 New Survey (if applicable) $ -Flood Insurance $ - 2nd Appraisal / Reinspection $ - Total $ 3,265.63 Total $ 250.00 Escrow and/or Property Taxes Due Total Estimated Monthly PaymentsTotal Insurance(s) 3 Months $ 450.00 Principle and Interest $ 3,343.15Property Taxes 4 Months $ 2,868.64 Total Property Taxes $ 717.16Total $ 3,318.64 Total Insurance(s) $ 150.00 HOA / Maintenance $ - Monthly PMI $ - Total $ 4,210.31Total Estimated CostsEstimated Closing Costs $ 12,919.50 Estimated Escrow Prepaids $ 6,584.27 Estimated Funds To Closing $ 187,003.77

I’m sure I’m not the first one to deal with this type of situation, so any direction would be greatly appreciated!

Not a great deal, but getting my real world education and hoping that will be invaluable going forward.

They rely on the home owner to do the coordinating, but they both expect submissions and approvals from each other all at the same time.

Over Renovation will just cost you money for no reason.