I like that you identified that you want to get into the path of progress so you can potentially capture appreciation.

Each home served our purposes as a primary residence for a few years, and in each case we added value through enhancements or repairs.Now as rentals, the homes are well known to us and in markets where we understand the common tenant demographic.We undertook a comprehensive refinancing of all the properties 18 months ago to lock in low interest rate 15 year debt while releasing equity to purchase our newest primary residence.Good luck with your decision and congratulations on your progress to date.

Or still in progress?

Allstate, Progressive, Nationwide, Travelers, Liberty Mutual, Safeco will note even write policies wind/hail coverage currently in parts of Texas, Louisiana, Georgia, and Florida. 

Best of luck and keep us updated on your progress. 

That may determine whether the offer will be written by you on State forms or if it will be written by the rep on a different contract. a builder’s contract may have terms about the appraisal where a low appraisal requires the buyer to bring any amount differential to the table at closing, especially if there are a lot of upgrades over base materials.Builders rarely negotiate on price but you may be able to negotiate some upgrades for your buyers, like quality of appliances, garage door openers, fixtures.If the project isn’t completed, your buyer ‘may’ be allowed to make some choices in materials, upgrades and cosmetic options.I would arrange a few walkthroughs to observe the progress before completion, with the buyers.Delays in construction and State required inspections, certificate of occupancy and cost of materials can complicate closing, such as a builder changing the price or the buyer’s rate lock running out of time and what it costs the buyers to extend it.Still recommend inspections to your buyers as new construction doesn’t guarantee things are in perfect condition, although builders typically have a window of time whereby they will correct what’s found by the new owners after closing, as well as some guarantees over time.Some builders have preferred lenders and Title companies - although the buyers don’t have to use them, they typically make for a smoother transaction and may provide discounts.If your buyers are loyal, and they happen to speak with a builder or builder rep without you, hopefully they won’t take the bait if the rep says they’ll get a deal if they leave you out.

Multifamily is also a natural progression from single family - so I think you will see on biggerpockets that this is the focus. 

Then, we came up with another option for him to take a chunk of money on closing day in terms of a higher down payment and keep the interest rate at 3%.Now, I am waiting for their response and looking for lawyers who can provide me with a template for a lease agreement (This will be my first rental property).I will keep you updated next week on the progress.

In progress - owner has 20 more units to sell over the next 12 mo and will be doing so with us.

Looking forward to future progress updates of you kickin butt!