It really depends on the government organization.We have a good relationship with the agencies and invested over $100mm in this market so they know us and know that we mean well and will improve the area.However, we still had times where permits took too long, supplies were challenging, and labor even more so, etc, etcAs someone said, not recommended for your first deal unless you have a lot of construction experience on your team.The lenders will want a construction guarantee so there is some risk there.Also, not sure I would go through the brain damage for 12 units (depends on how the numbers work out).

To much bureaucracy and approvals from many government agencies.   

@Will Barnard SFR with and ADU is Agency compliant but 2-4s are not. 

Our investors are getting hug cash flow + value adding, We are getting ready for agency refinance.Lessons learned?

Our investors are getting hug cash flow + value adding, We are getting ready for agency refinance.

If you decide you need full service PM, then recommend you find a local agency.

Do you currently work for real estate investing agency.

Conventional lending wise buyer 2 will need to pay for the assignment through escrow in case since conventional cannot finance the assignment fee in this configuration / loan structure.Private money and non agency/non conventional products can finance assignment fee's or rearrange the assignment fee as a broker commission is one way around it such that conventional can "then," be allowed to finance the "assignment fee," but in this structure whats really happening is the assignment fee is being restructured into a broker commission which means the wholesaler buyer 1 better be RE licensed in the state of WA.So do your due dilligence and structure accordingly.

Also remember, banks are not forced to buy fixed income treasuries or agency bullets. 

If you signed a Buyer Agency Contract with your agent, he/she is entitled to a commission typically (but not always) paid from the seller's proceeds.