I'd present it to them at 35-40%, especially with all the POHs.  

Reference: https://www.naics.com/six-digit-naics/?

@Tiffany Makiya- whats  present rate on 1st mtg ? 

Most first-time investors shop blindly and end up learning the hard way..Also make sure to present the deal clearly to the lender.

IMO a good retail listing person is going to say F-that, I don't waste my time trying to make buyers lists, I have lists of finance brokers, r.e. brokers and other gate keepers who spend there time doing all these buyer lists and I know how to present and pitch to them to get action from them pressing for all there buyers to act.

Re-trading a loan would necessitate a loan is present/originated not the case in bait and switch since that occurs prior to funding.

This was an off market deal that an older lady presented to me.

And are these issues Cleveland-specific or present in other parts of Ohio? 

Maybe that wasn't the case here.The contract was not an assignment that was presented but a traditional contract, most likely they were doing a double close. 

Ask questions, maybe they will let you sit in on a presentation. 2.