It looks like it's pretty much the same terms: 0% down owner-occupied and 5% down NOO. 2.25% funding fee and the seller will pay up to 6% of the sales price towards closing costs. 

From what I"ve researched it sounds like quite an undertaking and costly if you want the approval to rebuild on the soil. 

I live in NYC but open to a lot of the mid-west/central markets given lower entry price.If you're looking to get started like myself, or even wants to invest together - feel free to reach out!

See if you can get a free estimate and pick the brain of the estimator!

The key seems to be not letting this current tax rate issue push me into making a rash Risky investment that could end up costing more than simply paying the excessive taxes now!  

. $415K less rehab costs at $200K (20K/unit) = NET $215KYou would pay a % of the future value in this example, you certainly (and neither would he) wouldn't pay $1,392,857 for an asset generating $75K per annum, understanding that the value therein would be offered at a 3.2 CAP.

This leaves us with a little over $1000/month for our housing costs split between my wife and I. 

So if it is 10 years (making up a number) and the unit was 2 years old and a new unit costs $5000, you bill them for 80% of the cost-$4000. 

You really shouldn't propose anything until you have a conversation and understand what the financial needs or expectations of the seller are in advance.

Investing in New Builds: Considerations and ProcessNew Build Investment Options:Build and Sell (Fix and Flip):Pros: Potential for high profits with modern appeal.Cons: Requires significant upfront investment and market risks.Build and Hold (Long-term Rental):Pros: Attracts quality tenants, potential for higher rental income.Cons: High initial costs, market fluctuations.Process Overview:Market Research: Identify high-demand areas.Land Acquisition: Purchase suitable land.Design and Planning: Work with architects and obtain permits.Construction: Oversee build quality and manage costs.Marketing (Fix and Flip): Highlight new features to attract buyers.Tenant Management (Rental): Implement thorough screening processes.Advice:Educate Yourself: Understand local regulations and market dynamics.Risk Management: Prepare for potential delays and cost overruns.If you have any other questions/just want to discuss feel free to reach out to me directly!