That said you can greatly alleviate that with good screening, and the higher price point that these types of units can demand should help filter out the deadbeats.

Risks: rates go down and you have to pay a prepay of 2 or 3 %; you have to sell and pay the prepay; rents decline & you can't make the payment like any other type of loan; cost upfront a little more than conventional; need to find experienced broker licensed in the state where subject property sits; servicers are bulldogs. 

If so, it will be good to get the type that has the on and off heat feature.

So, I am a vested party, but am not an employee, so have no employee type pressure.

Moderators are not employees or paid by BP. we can remove posts and flag posts - that  is the much to the extent of what we can do - we don't have any type of access to someone's accounts. 

Right now there's huge concentration, but as this continues to build out and we see north of the high 30s GW by 10 years from now it'll be almost a requirement to keep some type of locality based risk assessment and to diversify. 

Rehab estimated at $35K3 unit propertyWill need some financing What made you interested in investing in this type of deal?

This is the heart of the reason housing isn't mroe affordable, that landlords bear these types of costs every day.You could probably find cheaper labor, especially to haul away the junk, but not easily as an out of state investor. 

Does the EU have similar types of benefits? 

Additionally, if there are any contractors in the Fort Lauderdale area who can provide an estimate or guidance on this type of conversion, I’d really appreciate the connection!