Hi Andrea, i am in the same position as David,although iv'e been given about double the time he has, thanks for the info this is very helpful, Kath

double post

@Tom Brunell It's a double edged sword I guess.

But I don't expect those kind of blow-ups on an annual basis by any means (I have more than double the units in a less-desirable, lower-income area nearby and haven't had any of these problems over a similar time frame.)Thoughts?

Even title co. can help you with a contract.When you find an investor friednly title co. you need to know if they work with assignments, double close, dry or wet closings etc.

Seems like the best thing to do is a double close with the title company, I close on the house then turn around and sell to the cash buyer.

The loans would be from non-retirement funds for non-owner-occupied properties.Normally, income from such loans would appear as interest income on one's personal tax return, but, especially with the Affordable Care Act, there might be tax advantages to forming a one-person C-Corp and drawing a salary, despite factors such as payroll taxes, the overhead from reporting and tax filing requirements, and double taxation when profits are distributed.Interest income isn't compensation to the IRS, so if one only has interest income, one can't contribute to a 401k or IRA.

I would double-check the permitting because it could teeter the commercial classification.

I'm also looking for a Title Officer that understands assignment of contracts and double closings.

But given that unfinished space is a lot less costly than finished space, I can't imagine we give it the same amount of "clout" as finished space.Yes, it certainly isn't a life-or-death concern...but given that I could argue that my square footage is under 3400 (only finished space, not including garage, not double counting stairs) or I could argue that my square footage is nearly 4500 square feet (including all space plus garage), it makes it pretty tough to analyze my price-per square foot building cost.For example, if my true costs to build this house is $325K, that means my cost per square foot could range from $72/sf to $96/sf!