However, hard money loans generally are done by private individuals and definitely very fluid or flexible to what you need to do on a flip.Also, a homestyle loan (rates in the 4-6%) would also work for a distressed property, as it includes repairs and home cost into the total loan amount.

@Ryan Keenan You don’t need a lawyer, you stick to your contract and your state Tensnt and landlord policy, if tenant is breaking the contract then you win, if you are braking the contract tensnt wins, if tenant is moving out due to agreement, you keep the deposit as long as your state Policy say unless you have it in a difrent agreement in the lease.

Whether you are liable or not is one thing, but whether or not you'll get sued is another.Fix the fence to minimize your liability, and leave some radiator fluid around to minimize your chances of getting sued (tongue in cheek).

Using the traditional wholesale method in my market those not work as well in comparison to your market.In the NYC and NJ market the sellers are different type of breed of people and they have back out many times for silly little things, I am sure in your market a hand shake is a bond but in this market time is your enemy and whatever way you could prevent a seller from backing out, this is an added option for it.I dont know why you want to focus and the"stress statement" that was just added information but that doesn't make or brake this strategy.The conclusion, many responded here that using the MLS would get you a higher profit margin.

@Alejandra Stack Nobody is right now, the Department of Veterans Affairs themselves are the ones who put the brakes on the renovation loan.

How many work on their own cars to change the oil, brakes, etc.? 

@Megan DettenmaierSad to say, but you may be liable if he brakes his leg rehabbing your property, but unless you assured the security of his tools, he is out of luck.My insurance covers loss of my tools as well as many other things.

We need to be fluid and aware.We had a couple rural used-to-be something else apartment buildings for 17 years. 

Almost anybody can, but they also need to learn to steer and brake.

You want to stay fluid with the market so you can exit on the development side if things start going soft.