Ideally we would already have another house in the works at the same time of sale.I am trying to avoid renting an apt until another house is finalized.

Some I also insist on taking a % interest in the final profit on the re-sale (one of my LLC's is on title).

Depends on your purchase contract, however, if you can, you need to hold up closing and potentially re-negotiate or at least find out what the final permit process will entail.

Over the last few years i have done a lot of reading and a lot learning and finally want to make the jump with both feet.

However; you have an attorney, so it's best to let him make the final call.

They will give you a scope of work and a final checkout sheet with all the final moisture measurements taken.

With no money to bring it current, I don't see any other good choice.

Finally, I admire your courage to invest in your home housing market, but you need to be SURE that this puppy will cashflow and make it worth your time/ money.

Did did a bunch of fix and flips, land contracts, rehabbed and kept a number of small (4-6plexes) multiunit residential, some single family rentals, couple commercial buildings, things went south in about 07, split with my partner to try and survive, worked day and night for another year to regroup and survive, the final collapse in 08, worst year of my life in every regard.

I've been a periodic visitor over the years and decided it's finally time to introduce myself.I'm currently a senior in college in the DC area, and I'll be starting work in NYC this summer (assuming I graduate...).