Once you get through the open and look phase the letter needs to be concise and instill confidence in the seller that you know what you are doing!

Blending the two together can be done, but it will need to be drafted with clearly stated phases and closed of public notice given twice, first to give notice that the property being encumbered by an option, then for the real estate transfer.The title of your agreement could be: Option To Purchase And Sale Contract For Real Estate.Starting off with and Option To Purchase and covering the agreements of the option and then describing how the property will be take subject-to and ther terms of that transaction, being at the Option of the buyer.Some times you'll be describing on party with two or even more descriptions or positions, as the Optionee and Buyer in this case.

Phase I environmentals will be required, sometimes Phase II, and the engineering and inspection reports are big bucks.

But would you start out small with 10-20 rooms with rest of the facilities and then build another phase for additional rooms?

This $25K special allowance phases out $1 for every $2 of AGI over $100K.

The best thing to do is to prevent problems like this during the offer/negotiation phase.

A Phase I (ASTM E1527), asbestos survey, and lead survey are also probably needed.

Below some knowledge to share:Property values rise and fall due to recurring life cycles of development, stability and decline.The development phase of the cycle is also known as integration.

@Corey Beckwith  Hey man, it is brand new tubAlso if you haven't seen my post here on BP called "5 Flips Start to Finish" you may enjoy that, as I break down 5 flips that I am currently doing right now into 8 different phases.

Don't just talk to out of state investors that have just started buying a few years ago, they are still in giddy and in the "honeymoon" phase, and you won't get the real scoop.