This post is my small way of advising against that and hopefully steering some people straight.There's no shame in sitting on cash, building reserves, and being patient right now.

Purchase price: $1,800,000 Cash invested: $960,000120ft tunnel carwash with 3 detail bays and an upstairs business office. rebranded the carwash business to match the same name and logo as two other carwashes and offered a joint monthly unlimited wash pass that was usable at any of the three wash sites!

Second, as you mentioned, I would see if the utilities support the conversion. 

cost: 1,300/mrunway: 4 months = 6,800spread: 1900all in cash: 138,800Income a year: 22800/y ÷ all in cash = coccoc: 16.43%seller sees offer: 250,000sub-to 120,000sell fin: 500 w/ 0% intrest term: 13.33 yearsdown: 50,000

Then subtract your debt service to get your cash flow.Income taxes will be taken out of your cash flow based on which income bracket you fall in. 

If you're positively cash flowing with a prospective property, don't wait.

When people here send me private messages or ask me on a call, one of the many things I'd tell them if they want to buy pre-construction is to check the developer's construction license and that it complies with the zoning rules (and I'll tell them if I know what those are).You woudn't believe the amount of people that are ready to put a sizeable amount of cash on the table but won't spend the little extras needed to make sure they don't lose it.

Control more cash in MM or CD's so we don't take the full inflation bite, holding cash. 

They cash flow well though so it is what it is.

An annoying fee, yes, and eats into cash flow and profits which is why you likely started on this endeavor, but the lengths people go to try to avoid what is, in the end, only $800 seems excessive sometimes.So, we don't have all of the facts or copies of any documents here, but generally, a trust only governs any assets that it owns.