School District Flip

[Bobby Holley]

Over a month ago a social acquaintance of mine and my wife asked us-out of nowhere-if we would like to flip a house to them.  They desperately want their kids in the school district where we live and with inventory low in this district it's a seller's market.  So, I found a property that I thought might fit their needs.  The only problem is the property was sold shortly after their request at auction, Nov 6, for $242k.  So, I decided to meet the investor who purchased the property that very day at the property. I took pictures and found out he was asking for upwards of $300k.  I want to limit the financial risk to my investor, pay cash for the property and flip it with what appears to be very minimal rehab.  What steps / documents should I consider so that my investor knows the buyer is ready and able to buy the property?