Purchase price: $2,000,000 Cash invested: $1 76 unit value add apartment complexCurrently cash flowing at a 9 cap rate with 17 emptiesThe plan is to invest 20,000 in renovations into the empty units and have it performing at a 14.5 cap rate.Property was purchased with the seller carrying 10% and the other 10% was secured through equity in other properties.

Sellers were motivated to move quickly and we were able to secure a price way below market for an easy assignment to a rehabber.

If it is a title issue that can be corrected , HUD will almost always grant an extension at no cost. 

Chris...I believe this is in the circumstance of loans made to individuals where the loan is securing a primary residence, correct?

Granted, each state has differences and I'm licensed in FL, not UT......still, I'm not fully buying it.

My guess is that it is vacant ask if you have his permission to enter as long as you leave it secure when you are done. 

In Massachusetts - We purchased a 4 family house and one of the tenants did not have a security deposit.

A few years ago I graduated from San Diego State with a bachelor degree in Criminal Justice and also got my master's degree in Homeland Security.

AB 671AB 671 lowers costs through government incentives for building ADUs with affordable rent.The bill would require the Department of Housing and Community Development to develop a list of existing state grants and financial incentives for operating, administrative, and other expenses in connection with the planning, construction, and operation of accessory dwelling units with affordable rent.

Since you would have more units, you would have more scale on depreciation of appliances and improvements like a parking lot or security lighting that you may not have on a SFR.