If that is what they are telling you, then I would research it further, it necessarily may not need to be torn down but it may not be able to be used for residential use, but typically you can also get special exemptions/permits too

It's worth spending the time finding a G.C then worrying about mediation.

You'll need to determine the monthly cash flow you aim to achieve from rental properties, along with your desired timeline for getting started and the initial investment you're comfortable making.While flipping properties can yield quick returns, it's worth noting that the current market conditions may pose challenges in this area.

Add all this up, and one would be quick to see it's not worth it and its a waste of money.Sample contract:https://www.ahs.com/contentassets/8ba0119cd29145d1a2cedce007...Looks like a great deal (sarcasm).

Typically, getting into the 5-unit range can get overwhelming for people and take up too much of their time if they're focused on scaling.Real estate bookkeeping is very balance sheet heavy and that's where the mistakes are made if you're managing the books yourself.

In today's Wall St Journal- Fortune Favors Early Movers in America’s Property CrunchInvestors willing to buy buildings when everyone else is running scared typically get the biggest rewards.

This way you can live in one unit and rehab slowly and not having to rush as you have a locked rate unlike when using hard money its only typically good for 12 months depending on your terms.

Don't think what you have is worth so much, you'll end up holding on for too long and losing.

Those deals are typically in the multi-million range and the loans are typically non-recourse which changes the profit at a lower percentage and it changes the risk as being non-recourse.

Typically, to qualify for loans when contract or self employed, you need two years of tax returns for a typical loan.