Here's the thing though what a lot of people are betting on: since it did take such a hit, it will come back sooner and stronger than middle america.

Your best bet for knowing what you could get for a loan is to speak with mortgage brokers or lenders.

They have not started construction yet and are probably 4 months away.

That is why casinos give people chips instead of letting them bet with cash.

If you don't know construction hire some professionals.

Spending too much on an initial operating agreement can be a waste as you may never find an investor to use it with OR that investor may want the contract to be re-worked with changes.My suggestion, and what I've previously done, is basically sit down for a week and do your best to construct your own contract.

Most of my RE experience is in new construction sales so I thought I would do a complete 180 and try working the REO business.

With this type of construction, there's no living space for the leak to go - it goes to the unfinished basement and down the drain.

Buying a rental with negative cash flow and betting on runaway inflation in the near future really is not the rental business.Yet another thing completely is the mom and pop investor who only wants to own one or two rentals for their retirement.

I would put written lowball offers on them, but how do I get the timing right, as far as identifying them for a 1031, or a construction 1031?