This puts us somewhere between 18-27mo pending sale.Land Acquisition: 1M + 50K in closing costsHard Costs:Demo: 50KConstruction + Architectural Plans (survey, topography, permitting included) = 1.6M + 80KPool: 100KSoft Costs:Appliance package: 50KFurnishings: 75KLandscaping: 20KAnnual Carrying Costs (utilities/property tax/maintenance): 45KTOTAL: 3,025,000.00 After speaking with two lenders, it seems the best course of action would be to put 20% down on land for 12mo/interest only.

If it takes you 6 months on a $100K rehab to get the units finished, leased and refi'd then you're going to pay $6500 in interest...what's a refi going to cost $15-20K with closing costs, any points, appraisal etc. etc.

Cash offer do carry weight as they can close quicker, don't need appraisals etc, but as an agent that works with buyer and sellers, I've seen it many times where a seller will pick a different offer due to some connection to the buyer (ex military, young married couple just starting etc) They want to know its NOT going to an investor specifically. 

. $10M coverage is no where close to 10 times the cost of $1M coverage). 

If you don't need the money,  buy them out minus commissions and closing costs,  etc.

Thanks for Replying, Carolina,My credit score is close to 800 (shouldnt be a problem) last time I checked few months ago and property is long term rental producing good return.

Originally posted by Account Closed LOL ok ... everything you're saying is an opinion.

I want them to send the check to my attorney for the closing on a specific property.I know that some of you are so eager to launch this new phase of growing your business that you really want to take that first check but don't do it.Here is why.

I will share this point as my closing comment.

When I finished my closing There is an attached rider ( 1-4 Family Rider, assignment of rents) to the deed stating that Covenant Item 6 of the Security Deed is deleted.