And that is making all the difference to me at this time.  

I have never flipped a home before, this will be a new venture for me.  At

With Interior Trim, you can see your work take shape and I loved that.Now for the meat and potatoes, I'm at a loss as to where to start... do I get my REL in Illinois even if I don't plan on making it our permanent home, start trying to find deals to fix & flip, where to get money (hard money or private lending, HELOC)? 

You've only given the smallest detail that, frankly, doesnt change the value for me at all.

I wont waste everyone's time hear, but if you want to hear how bad things can go with a rental property, feel free to contact me at (the website didn't allow me to post my email). 

Ned it may not be a law but the title company can have their own rules and simply not insure them.. nothing says they have to.as Wayne says tons of fraud with Notaries and the east coast leads the nation in title loss's.. according to Pat Stone .. at least that's what he told me at lunch.. just like people get private folks to sign quit claims record them .. and now no one will insure the title going forward.. they don't trust docs that were not prepped by a title company or in your area attorney … I have seen that..

And balked when I included normal verbage in the PA that the security deposit $XXX and pro-rated rent would be turned over to me at closing. 

I remember the review of the book said it was pretty advanced, but I loved it because it had real meat not just a lot of fluff. 

Here are the details:Duplex will be vacant when we close on property (the owner is moving out of the unit)Rents are potentially at least $700 conservatively, or $1400/mo. once rented outThe duplex is worth between $85k to $100k (I had a hard time coming up with exact comps)I estimate a 45% expenses (on the high end) which put me at a 11.63% CAP rateRepairs are about $35,000 (it needs all kinds of updating, but has good bones and appeal once finished)I offered $45,000 purchase payment with the following terms:$25,000 down payment and $20,000 in 18 months18 months of NO PAYMENTSA 12% interest charged only on the balanceBalloon at the end of the 18 month period (i.e. $20k balance)Therefore, 12% interest on the balance ($20,000) is $2,400Total seller gets is $47,400 after 18 months.  

for you. is it normal for the broker to charge 1% to me at closing?