Just a quick update leading into the weekend for our 3-family flip in New Britain, CT:The mechanical and plumbing work is completed (draw #1) and has been disbursed by our HML.

Unless there's a reason to go 203 K I'd look at a different funding mechanism. 

The way he arranged it might have even included some other mechanisms but I can't remember (life insurance, ira, annuity?)... 

Are all of the mechanicals working properly?

My old employer 401k doesn’t have the mechanism for real estate investing so I have to use a sdira.

It's a lot like a mechanic...if they are fair, can do good work quickly, can make professional recommendations....that would sound like a good fit to me. 

Be careful they aren't able to place a mechanic's lien on your property.

It's my first deal, and I'm still trying to figure out the mechanics of it all. 

One relevant question: In the event the third party prevails against your seller, would any judgments/awards attach to the property by some legal mechanism, after you bought it, or would it be just personally against the then previous owner?

Account Closed these are good questions, and know that the mechanics can get tricky especially during your first multifamily purchase.