If you had a default interest clause in your promissory note and didn't enforce that and they still made monthly installment payments, for which you accepted each time, then you are in a sticky situation to require additional extension costs. 

The billing statement was for around $3,000.00 but that is always the best outcome because the variance process is timely and will ultimately cost more than $3,000 when including legal fees, new use permit applications etc.

Hello All,I just thought I would introduce myself, my name is Cyndi and I hope to learn a thing or 2, about real estate investing in a very high cost area. 

This is something I'm considering getting into - and would like insight on:- Cost (what to expect for price per sqft)- Book / Podcast / YouTube Channel recommendations Trying to learn as much as I can - looking forward to getting connected!

What about for rehab costs?

She has stated that she will not file an insurance claim and instead expects my company to be responsible for the cost of repairs.

I would recommend getting some trustworthy eyeballs on the property to verify that the issues coming up are valid and the costs are in line.

If you househack, you will learn costs and how to rehab a house.

Below are the key data points:- Gross Rental Income: $118K (I received the rent roll list from agent)- Effective Gross Income: $112K (I'm assuming a 5% vacancy factor)- NOI: $56K (I'm assuming 50% Operating Expenses - inclusive of 10% property mgmt costs, repairs & maintenance and CapEx reserves)- Recommended PP: $623K (Market CAP rate is at ~8%; I used 9% because I want the Cash on Cash return to be 10%+ with a 30% DP at 7.2% interest rate and 30 yrs term)- The asking price is $1.25M.

Mortgage liens are generally junior to government liens, therefore, additional diligence is necessary to ensure that those liens are not on title or that you are accounting for additional costs when purchasing the property.