They own 20 rental properties and wants to sell all of them as soon as they can. He

- Can he keep the check(s) and not pay me at all??

The questions: 1) In what ways can he screw me? 

And beyond that, in general, what sort of things can an investor look for - what questions can he ask -- if he's looking for rental realestate, buy and hold, and seeking to go deeper than the "rents = 2% of purchase price" model?

Do I just get a new ATR- or can he/she work off the old authorization?

Several ways to go, your trust level is the main consideration, will he sell. can he sell, does he have the funds and can he wait.

can he go after you legally for wasting a month of his time??

To make this long story come to an end, he has agreed to walk me through the process and help me with what he can. He

Can he give me a land contract if he has an outstanding mortage?

I've recently been diving into the world of real estate investing, trying to familiarize myself with the terms, different financing options, etc.I have a question about the strategy I've been reading about wherein one gets a private lender for a short-term loan (say, 1 year)  at a high interest rate (say, 12%) and then refinances the home to pay off the lender at some point during that year.I assume that a) the borrower is going the private-lender-route because he/she can't get a traditional bank loan and b) when the borrower goes to refinance, he/she is seeking a new, traditional (i.e. bank) loan.My question is: if the buyer couldn't get a bank loan to purchase the house in the first place, can he/she count on a bank being willing to refinance after 1 year?