The developed value could take the form of paper OR finished lots.

I have spoken to the HOA more than once in the last 2 weeks - and I have several emails, including three sent today to various reps in the HOA, to create a long paper trail.From what one of the HOA reps told, the community has a problem with roof leaks and they are looking to replacing every roof in the whole community (they raised our dues twice in the last two years, with the claim being it needed was to change the roofs).If something goes sideways here, I don't want the legal liability to land on me because the HOA is taking their sweet time in handling this.

- https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-spectrum-diagramHow a fully implemented asset protection layout might look. - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-structuresLet me know if have questions or want to chat further - I can give you my investor perspective.PS.

If you don't look good on paper I would start exploring non qualifying loans such as DSCR where the bank qualifies the property rather than the borrower 

I'll lay out my current situation and let me know what you guys think.

We can apply separately for mortgages being that we aren’t common law or have a relationship on paper.

Also, if the stains are on a vertical surface; you can put CLR in a spray bottle and spray/paste paper towel on the stain.

So sit down and pull out a piece of paper and pencil.

And values are determined on the paper, when buyer and seller talk about it, since there are too many unknown variables for hard and fast rules.

Now I have an offer but wants me to carry paper (approx. $200K 2-3 yrs.) at 4.4% AND keep the first in place until 2-3 years.