There are aspects of the rehab that must be done so cutting costs can only be done on the most important features of the rehab.

You can use laminate downstairs instead of tile but the laminate will get burns, cuts, etc. in it and has to be replaced more frequently versus a tile that is sweep, mop, and go for re-renting.

Sounds like it's not cut and dry.

That, coupled with the possibility of a lawsuit or buyers agent commission obligation if they violate the contract and back out, might convince them to cut their losses and eat the balance of their mistake.

Then cut 3/4 of the wall flush with the cabinets .

If not and your home purchase maxed out your DTI to qualify for a second mortgage for an investment property then you need to find a way at your job or business (self -employed) to increase your income and also cut expenses to save more money.You can also wholesale and try to build funds that way.

The rent is a bit lower than average around Austin which translates a lower cut for the PM and for this type of property, means more work.

Perhaps, but depends on how much skin in the game you have.Looks like a spread worth doing to me.A few questions for determining to move forward would be time involved to get through the red tape in your area, how long from start to finish, any costs other than the dirt and $100 per sq. ft.Type of financing the buyer will be using.For a lender: Likely will not go beyond 70% of value, and if you plan to spec build, you may want to check out some local banks and see if you buy the dirt, perhaps they will do a construction loan and cut your lender costs in half.

We got her to setup online bill pay through the bank which cuts a check to me.

Appraiser has been dragging his feet for weeks b/c of lack of comps - it's an old house turned into a triplex in the Atlanta area - what should we be asking our lender and agent to do to get the appraisal finished so we can get to closing on time - it's a fannie mae, property, so I'm worried they'll just cut us off and take the property back to open listing?