Take ownership of your mistake and learn to do the proper due diligence recommended above😊

As mentioned in prior posts, there is a lot of due diligence, for modular there are not that many in the area because of the high cost of land and after building you will probably have negative to no equity.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Of course, be sure to do your own due diligence to validate all information provided.

Luckily the lender did their due diligence, eventually admitted their underwriting department was mistaken and eventually corrected the loan agreement accordingly. 

I began due diligence which had a few interesting issues to deal with as a result of a water well system and sewer treatment plant which services the property and requires a state licensed operator.

So you'll have to do your own due diligence on what to expect for rent- the vacancy rate used in calculations will be higher than the average for Chicago; You'll have to take do some homework on the cost to maintain.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

When you have a property under contract what types of inspections should you have done on your property during the due diligence process?

Take ownership of your mistake and learn to do the proper due diligence recommended above😊