He gets the money he would have walked away with on a straight sale for no work whatsoever, and I get to take home the added value over cost of improvements.I've done all the numbers (ARV, FARV, COR, etc.) and am comfortable with our margins.

So a great house, in a growing area, with a borrower making good income in a steady job, with little if any debt will garner those higher prices vs a guy who is getting by on the skin of his teeth, with a ton of debt, seasonal, unsteady job, and a high debt to income ration.

I have no concern whatsoever over the floors turning someone off to the unit as people can't find rentals anyways. 

I just reinforced it... as these rules have major teeth in them and it should be noted for all the newbie wanna bees on BP... don't want to end up in the slammer by defrauding Uncle  !!

I guess I'm cutting my teeth on my own place.

The house is in beautiful condition and needs absolutely no work whatsoever.  

And the fact that the Founder & CEO is personally taking time to answer your questions here speaks volumes about their values and the customer-focused business model they are building upon.Disclaimer: no, I have no affiliation whatsoever with Cozy (I'm just a renter using the service) -- but I do work for a startup as the EA to the Founder & CEO, so I know what it's like on the other end of this ;)

@Patricia McleanIf she's got 12 months back payments she may be in foreclosure queThere's a rule about back payments: get  the deed, be the owner and then do something with itNever ever ever ever get involved with a lease option with repairs,  it never works out with you as the buyerLet me know about the current value the way it is in this condition, meaning what are the comps if you sold itIf there are any repairs whatsoever get a general contractor through and find out how much it isGet a statement from the bank as far as what is it going to take to make up all the back payments and penalties probably in excess of $10000What is the equity position between the loan payoff amount and making up the back payments and the fair market value?

One thing that bothers me on a whole different level is when people from outside of these areas make comments basically saying the entire area is a cesspool of drugs, violence, etc since the truth of the matter is even in the "roughest" part of town, there's still a MAJORITY of people who are not criminals whatsoever and many people who choose to live there because its home to them and not just "all they can afford". 

The parties further intend that this Agreement constitutes thecomplete and exclusive statement of its terms and that no extrinsic evidence whatsoever may be introduced in any judicial or arbitration proceeding involving this Agreement10.