Licensed agents have a standard of conduct set by law, and have more liability than a non licensed person.

I typically phrase it in the contract "until funded".If it's already been removed, then work with the seller for an extension of the close date.

One drawback to acquiring a property that needs extensive renovation (more than carpet and paint) is that the property may not qualify for conventional financing.

For extensive damage to carpets caused by tenant to the point where it cannot be cleaned out, I would charge the tenant for all the costs to replace the carpet.Different courts may require different handling of this, and some do require you depreciate the carpets for damage charge purposes.

The RE broker tells me HUD will allow extensions until the situation is straightened out or cancel and get my deposit back.

I don't have extensive rehabbing experience (although I did pull off a pretty nice kitchen remodel once, just sayin.)

I have money partners and extensive experience in construction....You just have to do your homework when it comes to rehabbing and flipping.

So when potential tenants call 1-800 number, then they dial extension 120 to listen about our property, it advertises somebody else' property!!!!!!!

However, I did see this:"Civil case searches may be conducted for a $5 fee or public kiosks are available for on site self service record searches at no charge.

One of the mod features will be a term extension pushing the balloon back 8-10 years from now Exit strategy ideas I've been thinking through:- Rent then sell prior to balloon*have modified so balloon is around $2.0-2.1M* general upkeep of common areas done -> school enrollment higher -> more student tenants again -> rent raises over time -> increased value to sell for- Refinance prior to balloonthis also assumes an increase in value (which from market research and lots of knowledge about the building i believe will actually happen)Any thoughts?