Once half (or all) of the rehab is completed, you can then "draw" the money out of the escrow account relative to the cost of the work that has been completed.

There is also a potential 3.8% Net Investment Income TaxState Taxes - Dependent on stateSale of Real estate that is considered InventoryFederal Taxes - up to 37%State Taxes - Dependent on stateSelf-Employment taxes - up to 15.3%If it was a personal residence prior to sale, some or all of the tax from gain may be excluded.

Any provision, whether oral or written, of any lease or other agreement, whereby any provision of this section is waived by a tenant, is contrary to public policy and void.

He had an oral month-to-month lease agreement with the old owner and I continued with that.

Monitor / Review your success  (keep the process active at all times)   From an insurance perspective, the broadest policy form is called a "special form" policy (aka open perils or all-risk). 

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

It also indicates that you are thinking about being the developer yourself and introducing an Investor to fund some or all of the equity required to do the to be determined Project.

Are they giving me the past due amount only or all three; since they all say processed.

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

The subject property is the only eyesore on the street, it appears to need mostly just cosmetic interior/exterior upgrades, and it basically pencils out at 7 units-- with an 8-unit conversion it will allow a refinance of most or all of invested cash within 2 years.