Remember that title insurance involves multiple parties.

Most conventional wisdom/lessons learned are to the tune of not over leveraging, and any discussion involving >80% LTV seems to create a sense of nervousness (I am making a generalization here).

Remember, you have to pay for land, const. costs, soft costs, interest carry on your loan, permit and development impact fees, your profit, and fit that all into 120k per door on the unit sale (BTW, 120k per unit walking distance from Chesapeake Bay sounds cheap, but I'm not familiar with the market).2.

I know you can gross more by using Air BNB, but how much more can you NET and how much more of your time is involved. 

Until we can get a down payment together I'm working toward getting my real estate license so I can get involved in the industry in my off time from the day job. 

Some of the major rehab involves Siding, portion of roof, new sidewalk, splitting electric (new panel boxes and meters), heating (new furnaces and re laying of duct work), water (new water heaters), portion of broken sewer pipe replacement, replace electric wiring to 2 units, new kitchen, bath, flooring, windows, doors (interior and exterior) in all units. 

Pat, we 're probably putting the washer/dryer in the new bathroom upstairs, since it's a large space with an area that's not usable because it's under the roof, but is the right height for the washer/dryer to fit nicely.

They have a listing agent involved who will probably try to kill the idea of seller finance, but that's an assumption on my part.I didn't know if creating an LLC with the sellers and buyer as members, bringing the assets under the umbrella and then allowing to the buyer to buy the sellers out would work. 

Looks like the movers took the back door to the building off the hinges (don't know why they didn't just remove the hinges; must have been a very tight fit) and did a crappy job putting them back on.

After reading I have a general understanding of what it involves but I am still unclear of the steps to get started.