Obviously when things change on the project you will have to adjust the time as well as the price.

The FHA loan is pretty limited in how much of a "fixer" you guys could purchase, I bet he could qualify for a conventional loan at 3% down which may increase your options (food for thought).As far as structure goes you two should sit down and discuss length of ownership, exit strategies, etc.

We just moved here and I'm betting that the market will see a slow down from this.

If you know it is a great deal and fits into everything financially, play a little chess, hedge your bets and give it to the seller easy.

Those are your best bet.

(good luck getting through and getting an answer since all this just happened today I'm betting there are many questions floating around... just like this one)No link, just the news story I saw.

The ability to expand is also a big deal and I bet it won’t take you a tenth of the time it would take here with zoning, permits, etc - in addition to costs. 

Good, cash flowing assets in Class A and B will be your best bets.

Sweeping the nation bet it will be if not 100% nationwide will be pert near by next weekend

I bet he knows how to do several other ways to do deals also!!!