You will need the cash to build it and I doubt banks will be favorable with lending terms.

For instance, the term could be 3 years and add a clause that says they have to return the property to the condition it was in when they moved in, not just keep their deposit. 

While some buyers may shy away from the 7.125% interest rate, others who are familiar with the "Subject-To" strategy or are more flexible on financing terms may see it as an opportunity to acquire a property with decent equity and no need to qualify for traditional financing.

Hello, my name is Julian. I am a licensed realtor based in Atlanta, Georgia, and I am currently working on obtaining my mortgage origination license. I am 14 hours into the 20-hour online course offered by "RealEstate...

Quote from @Nicholas McCormick: Howdy-Does anyone have any experience with short term rentals in the Bloomington, Indiana area?

We are out of state but would be open to working with someone local if they can offer favorable terms.2) Any local realtors you have worked with and been happy with?

This will be an excellent home for a starter home, small family, long-term rental, and definitely a really cute AirBnB.

How to Track Regulatory ChangesStaying up-to-date might seem daunting, but the right strategies and resources make it manageable.Key Resources:Local Government Websites: These often publish updates to zoning, rental, and housing codes.Real Estate Associations: Organizations like the National Association of Realtors (NAR) or local landlord associations offer regular updates and seminars.Newsletters and Blogs: Subscribe to reputable legal or real estate blogs for insights into upcoming changes.Professional Advisors: Build relationships with real estate attorneys and property management professionals who can provide guidance tailored to your market.Pro Tip: Set up Google Alerts for terms like “rental law changes” or “landlord regulations” in your area to receive real-time updates.3.

You can purchase this with a low-money-down FHA loan. 

What were some mishaps along the way in terms of the contract?