Wanted to get some input from the BP community regarding how one might approach submitting an LOI for a Master Lease Agreement as opposed to buying a property with an agent.Since agents make a commission on the sale, I don't see why an agent would be motivated speak with their client about this (regardless of if they have a fiduciary obligation).

After having the plans drawn up by an architect and submitting them to the HOA for review, we discovered the CC&R's on this particular street required tile roofs, which added a significant expense to each new build - approximately $30,000 for the structurally reinforced roof needed to support tiles.

Now add in all of these above factors and consider how many times you will have to submit conditions to the lender for each month of new pay stubs, bank statements, verification of employment, credit supplements, builders invoices, appraisal updates, rate lock extensions etc...Your looking at 4-6 months now in most cases.I would suggest that after 2021 settles in a bit and "Hopefully" Covid starts to clear it's name form the media.....You might look back into that option.  203K is a time investment loan option that I think could be a last alternative choice to something quicker like a fix & flip loan. 

After speaking with the owner/agent, I submitted an offer with a stipulation stating that the due diligence period will begin after the eviction process is complete.

I have spoken to the Planning and Dev. board and they recommended I submit a variance as you have mentioned.

Sometimes you can take a walk-thru immediately before submitting an offer.

You have all mentioned networking is important, and that is something I will be focusing on in the coming months as I'll need to get all mortgage docs submitted, and then will need a broker. 

I submitted my first offer on a single-family property in La Marque, Texas this morning, and really did not think I'd even get that far!

I submitted my first offer on a single-family property in La Marque, Texas this morning, and really did not think I'd even get that far!

I submitted my first offer on a single-family property in La Marque, Texas this morning, and really did not think I'd even get that far!