Purchase price: $2,700,000 Cash invested: $445,000 We have submitted a proposal to the City of Minneapolis to purchase one of their properties and construct an 18-unit apartment building.

Maybe when legislators find out there isn't enough affordable housing provided by landlords they will realize what a big mistake they have made.I'll take a guess that this in in California where businesses are being forced to close their doors because they can't afford the high cost minimum wage and also can't afford automation products either.

Find an experienced local investor, figure out where he/she needs help in their business, propose a mutually beneficial arrangement where you solve their problem (for free) and in exchange learn from them.

Many banks won’t finance in the structure you propose.

I've also had it where if it was a for sale by owner or distressed property they proposed that they want my help,-but since they found the deal and put it in my lap, they then negotiate a flat fee or maybe I handled the transaction for just 2%.

If it had provided payment history I might reconsider but they don’t so I pass.Ideally they would not be owner occupied, but I just don’t see the volume of rental performing mortgage notes on Paperstac to count on it.Due Diligence StepsValuationI built a model which allows me to enter in my proposed bid and see LTV, Yield, and ITV, and see the monthly payment on the loan.

Since the seller is open to creative deal structures, any recommendations on what I should propose?

Two items in my proposed budget already exceed your capex withholding.

Any Akron investors see the recent articles about the city’s new proposal?

I'm happy being diligent about getting a correct proposal paid off.