Hi John- they seem to be in a tough spot related to the Synapse Financial bankruptcy- they've essentially suspended operations and are trying to sort through the mess.

My partner is an experienced home builder with 40 years of experience, however we recently moved to TN and he is not interested in getting his TN GC license.

It had been a bit and the fire marshal went in to that property (prior to it closing) and made a list. 

No, I put 65,000 but its probably worth 140,000 I'm trying to get a HELOC to do some renovations, then rent it out in April.

Where they were all looking at it as “$250,000 to fix it up”, I was looking at “how much to tear it down and subdivide”.

I am looking to buy my first multi-family property and want to know what's the best way to find good deals.  

I think it's pretty clear it disincentivizes new construction or encourages landlords to find ways around it.However, I do believe we could do better in areas for encouraging new construction with zoning reform and other tax incentives.

Would love to get some feedback from locals or current investors. 

Now, I’ve shifted my focus to sales in investment real estate.

If I don't make the repairs to the MH I won't be able to rent it at all.