My suggestions for anyone reading this….Before signing a rehab contract: get at least 3 bids, check that each includes detailed line items (materials + labor + markup).Set up the draw schedule: only release payment after verifying completed milestone.Have a worst-case scenario worked out: what if rehab takes 2× time, what if lease-up is slower, what if refinance drops?

We were under contract whenever our plans changed, but we did not know until we had fully purchased the property just how different the plan was going to be after all. 

Not a lender that "has done one before" or "does them sometimes"The problem is, people will work with a lender that says they're familiar because they want your business, and the 203k is the type of program where you'll only find out they messed up when its too late (about to close, 30+ days after contract)From there, the next important thing is to get a 203k consultant into the property immediately after going under contract/accepted offer. 

Ask the seller for help with time or structure ( keep in mind. seller , brokers are also looking for a close rather than spend the emotional energy going over the process from scratch)If the seller wants this to close, two options:• extend the contract 30–45 days• allow a small seller carry so you can fill the gap on a bridge loanSometimes a small seller note (even 5–10%) makes a tough deal workable.4.

This also leads owners to ASSUME simpler is better when it comes to management contracts.

It takes significant volume to get a deal under contract regardless of the marketing strategy.

Purchases and contracts?

Run, don't walk, away....Read all the comments above and take them to heart!!

I have four 1+ acre lots in Habersham County under wholesale contracts and need advice on the best way to market to interested end buyers.

@Matt Tallent ran across this thread looking for options on a property I’m under contract for in Philly and found that Philadelphia has a program the water and sewage line protection program.