Research, research and work out your numbers.

So if the deal doesn't work out this way, would it work out at a different price, or if rents were different. 

I work out all the expenses, I try and figure out rehab costs, I calculate rent with rentometer.com, the works.

The group are considering a REIT if the legalities workout.

@Carter Thomas you’d have to run the numbers on it, just know that the equity decreases with every year.so they are strictly cash flow properties if they work out. 

My experience with my broker is that, I let him know when I'm fishing or getting a feel for the market, or serious and ready, and it has work out very well for me. 

@Sanjay Aiyar, well that sounds like it would work out perfectly. 

Again, I tried to save some cabinets, save the flooring, make it all come together and it didn’t work out as planned.

It is also important that the design takes into consideration building costs, you can achieve the desired layout with less or more expensive materials, good plans will reduce building costs.Hiring subs is always the big question and without contacts in hand, you will need to get referrals which do not always work out.

This is something that your lawyer needs to counsel you on, and should work out to your favor to some degree, whether it be a concession or return of down payment if you feel it’s a deal killer.