Quote from @Brendan Jones: When it's a home you intend to live in, I lean towards focusing on what you want, then making it work as best you can as a short-term rental.

I email all my documents as pdfs with password protection, then I text the passwords to the person receiving them. 

I made the submission then about 2 days later.. get a e mail Hey we love it your approved subject to a few due diligence items next step is to send of 10k .. well this was a multi million dollar deal ..

so, it could be ( am throwing out random numbers) a purchase price of $350K with $10K down, and then 30-year amortization at 6.5% with a balloon payment due in 5 years. 

If you haven't fully accounted for all expenses, then your return may be closer to 5%.

Kitchens, baths, paint, flooring, roof, and then everything else. 

@Robert Brock, I guess my advice is not really any different than I would say to someone wanting to be a residential wholesaler: you need to add value to the transaction.Often times, having the deal tied up is the value, but more often then not, in my limited experience with commercial wholesalers and residential, the wholesaler has no idea what someone will actually pay, so they tie up a deal at too high a price and then add their fee that turns a bad investment into a horrible investment. 

Thank you,KVBelow are my answers to some of your questions that I feel qualified enough to answer and then some of my personal thoughts on where to go from here."

now in this case which is not as nefarious.. they just need to pay the bill.. get proof it was paid and get a lien release signed by the people your paying then show said lein release to title company and then a satisfaction of lien will be recorded that will clean up the title.

Then get a GC to give you a tight proposed budget to restore this old beauty back to it's former glory.This sounds like a $200k - $300k remodel at least.