Hey Joshua,I handle this in phases before the inspection objection date of the contract (specific to my locale).

I would like some advice on a 50/50 split project.
I put up the money on a single family home rehab with a family member that is a general contractor.
I paid cash for the house 192K and we estimated about 80K remodel ...

(l) Communicate with the First Party on not less a bi-monthly basis and with reasonable promptnessotherwise to assure that the objectives and purpose of this Agreement are carried out in themost effective and expeditious manner possible.

The variables can differ significantly depending on your objective(s).

Your objective is to turn around the building, increase rents/decrease outgoing expenses, etc. by upgrading units (using private lender capital), and have an option to purchase the property based on the lower value.

If not, perhaps newer, lower maintenance housing might be the objective.

A hot tub dealer might be interested in the spa, maybe they would pick it up and hold it then own it if it was not picked up and if it was picked up they could charge for the move, I'd give written notice of the paln and give them a few days, if they don't reply with an objection your notice and plan would be agreed, so word it in such a mannner.

Variance requires A2 Survey, letters to neighbors informing them of a public hearing in case they wish to object, sign off by wetlands commission (no issue here), zoning board and zoning board of appeals.

Any of these will not float if the borrower objects and seeks a judicial route.

I don´t know all cirumstances thats right but saw taxes and insurance payable with only one month of 100% occupancy thats not the norm in MFH´s.Okay you will flip this propertie to your end buyer, I calculated with $80 - 100k as offer and I guess I´m objectively correct.