The first step would be to determine if you have a viable project, once you start engaging an architect and the like they will start to bill. 

Engage a lawyer to review the contract, make sure terms are standard and reasonable.

✔️Purchase Price: $1.36MM✔️All capex will be included in a bridge loan✔️Will refinance into FreddieHere’s our plan:✅ Pave the parking lot✅ Build 3 additional units to utilize unused space✅ Perform light interior upgrades and bring rents up to market✅ Implement a flat fee for utilities ✅ Improve outside landscaping✅ Engage a professional property management company team to improve inefficiencies “The path to success is to take massive, determined action.” - Tony Robbins 🔥

This market has effectively collapsed over the previous 12 to 18 months... price for fixerupper properties have dropped to lows not seen in a generation"I still have the property associated with that appraisal.

With all this said, I’m really trying to convince my wife to do a multi-family house hack as this would jump start a truly amazing compound effect without having to purchase a forth rental for a while.

In most cases, the interest on your mortgage is locked for 15 or 30 years so rising interest rates don't effect owned properties.

Some were only temporarily made to work from home and some are now permanent remote, which drove many to flee expensive markets, cashing out of their high-priced homes, and into more affordable markets flush with their equity cash.The effect of that population shift has been that would-be buyers in the more affordable markets have been squeezed out of any reasonable opportunity to buy. 

This policy is in effect for 60 days past the state’s end of the state of emergency that was going to expire June 15 but has been extended.  

There are others but they may not be as effective. 

the reports tend to read something like "cracking or splitting is floor joists is possible cause for concern, we recommend the opinion of a licensed structural engineer" or something to that effect.