Were you able to obtain financing from a lender ahead of time for this investment?

They added a 20% prepayment penalty in my loan that I did not agree to and that they never mentioned to me when I was obtaining the loan.

Honestly, CapEx is not used when I'm obtaining "my" purchase price.

Speaking from experience on the other side of table (4 years as an underwriter; 3 years as a loan officer for a local commercial bank),  their are intangibles and "grey" areas involved when obtaining a small multifamily loan from a local bank.  

Feedback is greatly appreciated for this deal:Hotel/Motel Purchase and Rehab Purchase Price $750,000 Rehab Estimate $500 - 900k Current Appraisal $2mil My goal is to:Purchase this property with none of my own moneyUse the equity in the property towards the down payment assistance Close and put cash in my pocket at closing for working capital Finance both the PIP rehab and purchase with one loan if possible and one closing Obtain new appraisal and permanent financing once the PIP rehab is complete

An option might be a part time fix, buying on a conditional contract would be tighter.Must you be in title to obtain permits there?

It also is a ploy to obtain more of a seller's equity by flipping a contract to a willing and able buyer and in your capacity as a licensee, that transaction may not be considered being in the public good, you are avoiding your agency responsibilities through self dealing.

I'm 23 years old and currently living with my parents working odd jobs, have an associates degree (in liberal studies.. yay), 0 debt and perfect credit. I've always wanted to get involved in real estate and would like...

The property is being sold “as is, where is” and in our offer we must remove a clause that says “When the Buyer obtains possession, the Property will be in substantially the same condition as it was when this Contract was accepted”The property is occupied and if they trash the place before they move out then it’s our problem.

On the front end, ask your agent to obtain a written rejection of your offer (no more verbal exchanges).