So, if you want to avoid losing the property, you should prepare to eventually refinance it.From some of those discussions, plus ones I've had locally with people doing these transactions, the most common way the lender finds out is the insurance.

Professional technicians also utilize units designed to treat those hard to reach areas, such as crevices or the insides of walls.Softer items in the home such as upholstery, clothing, bedding, or other textiles may be more resistant to odor removal techniques.

How are you on BOCA, OSHA, Environmental Engineering, Marketing, Planning & Zoning aspects, obtaing zoning variances, politics in the area, working with utilities and thier engineers, financing projects......I could go on....Point is, you won't get this out of a few books, universities offer degree programs and new grads still are only prepared to assist an established developer.Best thing is to work with one and learn.Many developers were GCs before they started, probably started with a small number of lots and built in phases or got an existing area and built to suit.

We have topo, tree, setback, etc. survey items from our surveying company and have looked at access to utilities and floodplain items.

Such properties will be common in the area, that might be a good thing.

Each unit will rent for 650 a month, tenant pays all utilities.

We of course do this because a) you'll be doing rehab so the place will be unoccupied for at least a month after purchase and you'll still have to pay expenses (including utilities initially until a tenant assumes those accounts) and b) once a tenant moves out, it is rare for the place to remain to move-in condition AND you to have immediate replacement tenants ready to move in the next day.

I'm not familiar with New York law, but it's fairly common for a tenancy to convert to a month-to-month agreement upon the landlord accepting the next months rent following the expiration of the lease term.

These guys are not paying other utilities and college funds, and I would not expect them to pay you.

It's quite common for there to be a year or two of property taxes.