Yes, the roof leaked several years and required new ceilings inside.Today, with mold issues, it may be much more of a problem.One subsequent owner of my childhood home installed an inclined roof (among other changes).In addition to talking with an insurance agent, talk with a builder & roofer about replacing the flat roof.

Also, if the lease that was entered into prior to the loan states that it will be subordinate to any subsequent lien on the property, then it automatically becomes junior to the lien.

I know i might have a lawyer in Ma draw the note but I just want to see a sample please.Thanks

A typical HML will want you to put that cash in at closing and then give you draws on the $100K repair budget as you do the work.Hard money is going to be something like 15%.

Have a real estate attorney draw up the docs to where you're the BANK that he makes payments to.

When I draw the money from HUD to pay for the land and the first phase of the project, do I need to pay the mortgage payments immediately or can I defer them until the project is completed and occupied?

Any subsequent deed from the state would reserve the mineral rights to the state.

Invest now in your education and it will pay off quickly in subsequent investments.

I told her that I thought we could draw up a contract and she would stay in title untill I paid it off.Is this correct?

A subsequent buyer will still have to get their own title policy so its not like they will rely on your warranty deed in lieu of their own policy so I don't see how the QCD versus the WD will slow up a sale in the future.