In the meantime, the new hot water heater elements have been working overtime and probably resulted in greater utility bills.

Greg it will depend on the portfolio of the bank and how many performing versus non - performing assets on the books.The bank might not want to refi that type of product with too much of that type of asset class non-performing on the books already.They might have too much defaulted commercial all together.For value add plays typically occupancy is an issue.The lenders will want certain occupancy levels obtained for at least 3 months depending on loan type and typically stabilized for 6 months to a year or longer.If you buy an apartment building at say 50% occupancy using a hard money lender or private money and the going vacancy rate is an average of 10% then the lender wants 90% occupancy averaged out over time.When you refi you will only be able to go up to a certain percentage to cash out or can just convert with no cash out to the lower interest rate.Regular banks do not lend usually on sub par occupancy levels for the area.They see it as too risky and the say 60% occupancy can quickly go to 30 or 40% and they have a foreclosure or short sale on their hands taking a loss,plus inspection reports,attorney fees,appraisal and environmental review etc.

The best way around deed restrictions are:1. a fannie mae deed restriction has a TIME element and a PERCENTAGE element. 3 months and cant resell for 120% of the purchase price. 8 times out of 10 my wholesale fee isnt 20% of what I bought it for, so I can get around that by not being 120% of what I bought it for.2.

This was a key element of my mortgage business.

If answer is YES then I move on to the next lender.Sure some will require environmental and a few other costs.It's too much of a risk for a lender to hold my money and not close the deal and chase them down before closing.

The fund is just a tool and is one element of our overall picture.

The preparers could find work doing other things with tangible benefit instead of navigating arbitrary rules drafted to benefit certain elements of society.

You need to find a good environmental consultant in your area to inspect that 1955 building for asbestos and lead-based paint.

How are you on BOCA, OSHA, Environmental Engineering, Marketing, Planning & Zoning aspects, obtaing zoning variances, politics in the area, working with utilities and thier engineers, financing projects......I could go on....Point is, you won't get this out of a few books, universities offer degree programs and new grads still are only prepared to assist an established developer.Best thing is to work with one and learn.Many developers were GCs before they started, probably started with a small number of lots and built in phases or got an existing area and built to suit.

Buying a property that has environmental issues.5.