So we submitted our Title24 to the city on May12th by email.They responded saying the system was generating a target date of about 3 weeks out for reviews.understandably due to COVID-19 the 3wks have come and gone and no response from the city.Just wondering if anyone has any actual experience on how long the city is currently taking to approve permits.I'm guessing it'll take 2-3mths?

It was in contract for 1.65m but the buyer didn’t get their mortgage approved so that deal fail through.

There is one IRS-approved method for building or improving that uses 1031 funds.Construction 1031 Rules and Process In a nutshell, it goes like this:You go under contract to purchase the replacement lot in OklahomaA 1031 company creates a brand new LLC to act as holding company (Exchange Accommodation Titleholder)You enter into an agreement with 1031 company outlining your plans in the construction exchange You assign the purchase contract for the lot to the new LLCYou arrange financing for the LLC to purchase the lot (this loan can be from you, a third-party lender, or your 1031 sale proceeds)Loans to LLC is secured by Note and Deed of TrustLLC buys the lotNow the LLC can begin paying for improvements to construct the barn-condoDuring the building period, LLC rents back to you and makes you "Project Manager" to oversee the improvements.Once improvements are completed -- or at the end of your 180 days -- 1031 company assigns ownership of the LLC to you. 

The interest rates on 401k loans are relatively cheap, the approval process is fast and you pay interest back to your 401k. 

Hi James, quick question your evaluation on a rate of 2.75% for investment has been already pre-approved? 

I had an LLC set up along with being pre approve.

I also ask that the client talk to my loan guy or provide a pre-approval immediately.

We had been approved for a "fix and flip" loan through Lima One. 

I am a relatively new investor to the apartment complex world, I have not done a larger scale project more than 4 units.So far I am pre-approved with a commercial lender, I have set-up an LLC to purchase a complex.

If the bank approves your loan, that generally means they have confidence in your plan, and since they are on the hook for 75-80% of your loan that's a pretty high mark of confidence.This isn't to say you don't need a plan or that the bank is omniscient; it just means that there are a bunch of safeguards in place that help keep you from driving off the cliff.