If zoning should change during redevelopment of a property then there will be significant additional costs associated with changing the use of the property to meet the new regulations.

Additional items required at this stage include a project description including amenities, preliminary site, building and unit plans; rough, estimated project costs; and environmental reports.

In 2003, an electrical system was added to each water heater to charge the ions inside each heater to prevent sedimentation at a cost of $9,548.

The architect in me wants to redesign them and make them nicer looking and maybe add an additional bathroom to the 3 bedroom units (currently at 1.5Ba).

I have done a lot of them, and would equate the extra work to doing an REO because there is a lot of paperwork, and phone calls with the lender involved, and in addition to that most of them require a lot of repairs, as these are already in foreclosure, and most of the time the owners have pretty much trashed the place, and it is a piled up filthy mess!

You would also have additional monies from your HELOC.

I am in CT....We also have a residential program in addition to the commercial program.

Now as I said, FHA has put into place procedures that prevent double closings and so have many conventional lenders, but this is not a law.

In addition, Hispanics often do not have a legitimate Social Security number needed to pull a credit history and establish residency.

Be consistent in the marketing/looking that you are doing, and then add on additional methods as you go.