Did you perform the work?

What are things that I should look for or check when performing a routine inspection?

Here is the scenario:The project has gone on twice as long as expected, therefore holding costs have been twice as much.The project is maxed out for 203k limit for a 3 unit - meaning nothing more could be borrowed on it at the time, regardless of DTITo close out the 203k, the property has to go through final inspection with the cityTo go through final inspection with the city, we need about $40k of additional work (including new 1.5" water service)The property is not performing, so the banks see my DTI at the moment as very, very high - too high to get traditional financing, almost any way you cut it (HELOC, etc.).

"What do you need to move on from this property" "If I can help you by allowing you to move only what you want, not perform any repairs, not have to worry about the lawn/pool/snow removal, etc what would you take for a cash offer" IMHO once someone moves out there is always going to be a need to do paint and flooring to get it in shape to sell to a retail buyer.

Home Depot offers project loans up to $55k at 8% with an 18 month term (long enough to fix the place and refinance) that could be used for materials and installation if performed by Home Depot installers.

@Christopher Neil For retirement funds I like the idea of lending, performing notes, or JV on deals where you provide the capital and the JV provides the work.

You'll probably be buying an older home in a B or C neighborhood, those tend to perform the best.

Performing notes can be easier to acquire and manage, but with a lower return versus non-performing and even in those there are other sub-categories. 

If it's not, you get some cash, and you still own your performing building.Good Luck!

Past performance is no guarantee of future returns...While they paid in the past, something may have happened to change their capacity to continue that practice.