That guy suddenly owes $250k in taxes plus penalties and fees. 

Readers are advised to seek professional advice. 

I'm still seeking a dp1 or dp2 policy in Pinellas County, FL. was declared insolvent in February 2023

Prepayment penalties- usually 1-5 year terms.

What should I avoid when seeking a loan?

I never cared what they are making as the assignment fee, as long as I knew the numbers worked on my end.As for a purchase & rehab lender that will finance up to 100% of the wholesaler's assignment fee - I can introduce you to one that finances that and also 100% of the purchase & rehab up to 65-75% of the ARV.As a lender I sometimes receive off-market properties from wholesalers and other sources and share them to our borrowers if they fit what they are seeking.

Surround yourself with like-minded individuals who are at a similar stage in their investment journey, or seek out those who are 1-2 steps ahead.

In your situation, seek out a partner who is already experienced in this type of acquisition and managing the same.Share split? 

The partner holding it in an SDIRA did explore ways to exit the deal with that entity and buy back in down the road with another, but the time, cost, and penalties made it prohibitive.  

I would be careful not being honest with these companies as it can be huge penalties etc. if you are not using the information in a fashion they say you are going to be using it for.