Successful investors have more opportunity presented to them than they can possibly undertake.

This step ensures that the title work has been done and both the borrower and you have clean title.6) Recording of the deed.If the funds are being loaned for construction, I would lend the money in draws, upon completion of phases.

-Tenants staying there since (24 months, 14 months, 6 months, 6 months)-Leases are going to expire in (24 months, 6 months, 6 months, 6 months)-Security deposit (295, 295, 295, 125)Bad- Year of construction: 1981Ugly (This fee is supposed to be a deal killer but I think the risk is worth taking - I am seeking your expert opinion on this subject).- Monthly Maintenance Fee of 760$ - Seller is claiming that this fee cover pretty much everything except inside the property… the insurance on thru HOA is enough for most banks… also cable/trash/grounds/day-night security…I prepared 2 Reports using Bigger Pocket’s Rental property calculator a) With 100% mortgage b) With 75% mortgage.During the preparation of these Reports, I considered the potential future expenses by having the following assumptions.

@Joe Hausen - Good question, but, it seems like you are not totally at ease with this undertaking and rightly so.My take is that this property might not be worth your time and effort to acquire, pay the overdue taxes, refurbish and sell for a measly amount of profit if not a loss. 

IDK why you would buy a 300K home in Warren when you could just as easily buy the same exact new construction in Clinton Twp or Macomb Township, but thats just me.Of course If you can get into Rochester, B-ham or Troy by all means do it.  

fha 203k is for mainly cosmetic work no structural and that sounds like structural.There is a 203 full K which can do structural work but that requires a HUD consultant review and a more involved process.Or get portfolio construction financing at your local portfolio lender or community bank.

You have to keep in mind home inspectors generally know little to nothing about construction.

Hello All, I'm looking for a legitimate lender who will provide 100% of purchase price as well as construction costs (which will equate or be less than 75% of ARV).

The one I bought last month (619 N diversatech) was in near new construction condition. 

What length for financing term would be appropriate for acquiring lots and constructing single family homes for resale in today's market?