PS I was faced with this same dilemma in 1991 in Palo Alto  keep my house and accept 300 negative.. that had limited equity.. and because we were in an economic trough I got to buy up in the Napa valley a distressed property by doing an assumption for literally 5k down LOL  that was a home run.. but that house that I decided I could not hack the 300 negative and sold for a little under 500k within 7 years was worth 1 million and today its worth 3 million..

My skill level is limited to upgrading an existing space with new paint, fixtures, flooring, and lighting; this includes exterior painting, roof shingle upgrades, and deck building. 

5% interest Rate or total interest on a$10,000 Loan being $400 sounds to good to be true.  Interested in finding out if anyone on BP has been given such great offers from subject company, subject to a $850 Processing ...

Only problem I ever heard of was back in the day some condo associations didn’t have enough primary residence owners and the whole complex would be off limits. 

I thought of putting the details about what needs to be done and a time limit on it but I didn't think about inspections.... that would be important.

If you do not have enough of a deposit required, you could be provided a 2nd note of that amount and has a shorter pay-back period like 5 or 10 yearsThe other options included but limited to Seller Financing,  Hard Money lending, formation of a Partnership, or a FHA insured loan through a national Bank, or a local Bank. 

There is no letter my aunt told me that the city can take the building away from us if it’s no one living there  A lot of cities have laws to try limit the amount of vacant buildings.

NOTE: That's what is costs...I'm not making any profit on this event.To follow proper BP rules: click here to find the event listed on the BP website where you can find the link to register for this event on meetup so you can pay the fee and confirm.NOTE: THIS IS LIMITED TO ONLY 16 PEOPLE AND WE ALREADY HAVE 4 REGISTERED SO RESERVE YOUR SPOT ASAP AS WE WILL ONLY ACCEPT ON A FIRST COME, FIRST SERVE BASIS.

If one were to limit oneself to what the IRS “thinks”, then one’s clients would not fully benefit from what the law actually permits.In the John D.

This will be typically in the 15-20% range (on total construction costs) for new construction, assuming you and the investor are not taking on a cost plus contract.Given your limited experience, I am not sure why you would be involved once you sell the lot.