They have some of the most extensive fees because this way they can charge you fees but low points.You can expect to pay about 1,500 in closing cost fees: Legal, processing, underwriting.To get in a good loan, you would need some experience in real estate flipping/holding preferably in Houston and be 100k liquid and have credit 700+.You fill those three needs and I can help you for sure.

Best bet is to contact your trusted lender or other financial institutions to compare offers to find the best interest rates and terms that suit your investment strategy.  

It spells out the monthly rent,when it’s due, the length of the lease (or term), should contain clauses required by the federal and state governments, andmuch more.

The short version is that they can only do so much work before March 15 (businesses) and April 15th for personal returns.  

They can provide guidance on potential legal options and rights concerning the city’s demands and the lender.Negotiate with the City:Seek Extensions or Variances: Your friend can request an extension on the deadline to comply or apply for variances that might allow the property to meet less stringent requirements.Explore Grants or Subsidies: Check if there are any local, state, or federal grants or subsidies available for renovating older properties, especially those providing low-income housing.Engage with the Lender:Discuss Financial Hardship: Present the case to the lender, explaining the situation and the financial hardship imposed by the new building codes.Propose a Loan Modification: Suggest modifying the loan terms, such as extending the loan period, reducing interest rates, or even deferring payments temporarily.Negotiate a Short Sale: If the property must be demolished and rebuilt, your friend can discuss the possibility of a short sale where the lender agrees to accept less than the owed amount to avoid foreclosure.Explore Refinance or New Loans:Seek New Financing Options: Look for other financial institutions or private lenders willing to provide financing for renovation or rebuilding.

Investment Info:Single-family residence buy & hold investment.

How do you estimate just how many residents will stay long term vs. decide to leave or perhaps pass away during their stay?

For at least half of nearly forty years life I've lived and invested in property within a block or short walk to the beach in South Florida, Southern California, Southern Oregon and Northern Baja Mexico. 

I invested in 11 of their projects, each with the same dollar amount as a way to diversify my real estate holdings.  8 of the projects paid off completely with an average annual return around 8.5-9%. 

We have two properties that have long term tenants, and another property that is an Airbnb.