@Evan StampsYou’re trying to convince the seller to give you a near free “option” whereby you tie up his property with no obligation to close and spend the time trying to find a buyer at a higher price and keep the difference.Meanwhile a REAL ( as in will close without having to find someone else to buy the property) buyer is willing to close with no contingencies and provide $10,000 hard, non refundable earnest money.

I am going to ask a question that may take us further afield and potentially off-topic... but I am also going to tie it back to real estate!  

We ran the numbers and at first glance it seems like an awful situation with a -61% CoC ROI while we live in one of the units, but reminded ourselves that it would significantly cut down on our living expenses and when we move out to repeat the process we will have a 131% Coc ROI on that property with a great long term interest rate and cashflow.

The owner is a very small nonprofit who has ties to my family, so we aren’t going to use any RE agents.I’ve noticed there is a North Carolina vacant land contract, but I don’t have access to it as a Texas real estate agent.I’ve noticed there is a North Carolina vacant land contract, but I don’t have access to it as a Texas real estate agent.Do I need an agent to complete this form? 

Measure twice, cut once. 

Please email me with some project pictures you have done in the last 6month Looking for GM, siding installation, window installation, Handyman for this and that, Landscape tree cutting Plumber, Electrician, and HVAC.

You could cut them in as a partner and give them equity in the property or you can treat them as a lender.

Hi Adrienne,You cold pull up the carpet and have a look at the subfloor--maybe it's OSB from some old packing crate in that spot.If the joists feel solid underfoot and the area to each side feels bouncy, the floor wood may have failed.If that is the case a contractor may be able to cut 1/2 way along the joists on each side and insert new "Flooring grade PLYWOOD" of the same thickness as the rest of the floor.The carpet will probably need to be "Knee-ed" back into place by a carpet installer to prevent wrinkles.Be ready for anything when you open it up (meaning idiotic workmanship such as joists with way over-large notching for plumbing, etc...)This may also be a harbinger of things to come (or it may just be an isolated indecent.)Good Luck!

Hi Apurva,53 units -- It would be smart to talk to an Architect who does multi-family (In your general area) about the cost of doing a restyle as well as colors.Especially if you choose a Hardie (Fiber Cement type) product.With Hardie (Type) products, read the upkeep instructions, some require re-applying the joint sealers (factor that into your maintenance budget).Also with Hardie (Type) products there is a service life to the color...some come pre-colored, some your contractors must paint on site, (some require priming of cuts when installed)---talk to the Architect about the maintenance schedule and the CAPEX for this.Hardie makes big sheets of this for multi-family that Architects can use for visual effect and ease of installation.With 53 units--springing for an Architect to help with this would be intelligent.Good Luck!

When should you start thinking about cutting back your W2 hours, so you can do something more productive with those hours?