I always hear that it is the least costly.

Others differences that jump out: loan parameters are stiffer (usually 20 terms on a mortgage instead of 30 year), commercial insurance will be more expensive, appraisals will cost a good bit more.

Work with the local experts- talk with local zoning officials, engage architects, and reach out to contractors to understand the cost and feasibility of your project.Run your numbers- do some forecasting and layout some financial models to project costs, revenues, and returns.Make sure you are utilizing your team- aforementioned real estate broker, financial advisor/ CPA, and lawyer and others as you go.Best wishes and good luck.

.- It's been well kept- Between transaction costs (e.g. broker fees, transfer fees), capital expenses, tax recapture I would need to sell it for $1.9M to break even.-  At it's height (2022), it could have sold for but $2.7M. 

There are multiple programs to use to help offer a higher cash flow as well.If you have any specific questions feel free to reach out I enjoy helping and talking REI.

A free market is a system of gains and losses.

Check out FilePlace, where user-created forms are available for free.

extra cash down saves you interest, but costs you the opportunity to make money with those dollars otherwise.

Also when you transfer it to that borrower, make sure in your price you include the cost it is going to cost you to give that borrower a title policy. 

Feel free to reach out to me anytime.Best,Jorge Vazquez