To avoid PMI or a second loan and use conventional financing, I'm wandering if gift of equity permitted in this situation.

I would definitely check with the city planning/building dept to see what the permits say.

The extra 700K causes a change in all my %'s.

Also, the cost of permits, utilities, and other infrastructure required.

Pets are extra $ $ $Keep this phone no. more houses soon !

Find a local title company who comes recommended and pay an extra $100 for a title search.

Originally posted by Glenn Espinosa:Comps: #1 - 3/2, Same style house with 350 extra sq ft (mine will be similar with finished sunroom) no big garage.

My figures are coming out to 17k for whole house, 17k for plumbing, ( both from the contractor as estimates ) as for windows 10-12k, count find asbestos removal estimate yet, Interior of both apts will need to redo flrs and linoleum as well as kitchen cabinets - Its will also need wall paper and paint and fix any bad floors or ceilings or - each apt is approx 1400 sq ft the house is in a desire-able neighborhood and has much carisma with a 3 car garage and possibility of an extra lot.. its a big project but I have to figure the repairs cost to a close estimate so i can make an offer - they are asking 85 and arv is 135-40 whacha think ?

If I had an extra thousand bucks to wipe my butt with I might try it.how about pulling out of Afganastan too?

With that, you should have better luck with the 7.5%, but when you consider commissions to the security brokers, start-up costs, and other marketing and accounting expenses, your likely going to pay an extra point or two anyway.All of the above are merely based on my own experiences with investors who are known to me and who are accredited.