FHA will not insure a mortgage if FHA concludes that the transaction was designed to use FHA mortgage insurance as a vehicle for obtaining investment properties, even if the property to be encumbered will be the only one owned using FHA mortgage insurance.

I purchased this Multi Family unit and would like Interiror Design, Color ideas that will give character to this Historic Victorian home. 

As a former Chicagoan who grew up in the NW suburbs and loved the city too but hated the weather I just wanted to congratulate you on your eye for design.

Buy a new stove and get the tenants a gift card for a dinner.

The company I work for has been designing homes for a developer who up until now has only done flips.

After my wife and I closed on the house, my brother and our mother would give us his portion of the down payment as a non-taxable gift (both gifts under $14K limit per giftor) with the intention that we would transfer ownership of the house to a LLC owned by all three of us.

I have to say, I'm pretty shocked that a company with a business model designed to degrade the quality of two deals at once while filtered money to themselves would be unethical in their execution of this model.Caveat Emptor.  

Escrow was 90 days and at the time there was no one we could find doing acquisition to construction loans, especially to a couple kooks so we got a private money loan at 8% interest, 60% LTV, Interest Only to close the deal.Early project rendering.The homes are 840 square feet each and were a challenging design exercise due to rigid site constraints: a restrictive FAR, flood plain and 30' coastal height limit that really gave us a very defined envelope in which to operate.

Anything not listed you should have to go through the principal broker or designated BIC ( broker in charge) to see if it is an allowed activity.Principal brokers only get what is required of them for E & O insurance.

I believe if this vacant building is like most your estimate of rehab is way understated.It's not just the interior of the property but all the exterior components and additional interior upgrades the county or city might require for code compliance.If landlord pays water or other utility with current setup design then go 60% costs annually instead of 50%.