You lost me Cheryl (not hard to do) ;-)Will you ultimately place new debt on the tear down and rebuild project or will you keep the cash you would extract in the project and not procure debt?

One of the counterarguments to this is that you can always purchase properties subject-to and bypass the costs associated with procuring additional debt.

I think most capitalists dislike the government involvement in the finance market, but they procure these loans because it is a necessary evil to participate in the market.

If one or more parties are procuring the deal they should also be compensated for it.

The 10 days passed and no inspection we called numerous times and emailed and text they finally sent us a letter that allowed us to procure a 2 week extension on the sale.

We are working on our Wholesaling strategy, and are trying to fine-tune the procurement process.

Because he was the procuring cause right.Why would seller hiring a different broker invalidate any of that protection to the original broker?

Procure lien waivers from general contractors and any subs throughout job.

We're also trying to think through the other implications around taxes, insurance, etc.Key Points:I have an informal business partnerWe both have LLCs He is a General Contractor that performs the work under his company nameMy LLC is in place but all of the properties are purchased under my name because I must personally guarantee the loansI handle all of the finances, accounting, permitting, deal analysis and all of the other desk jockey workHe handles day-to-day project management, hiring of the subs, material procurement and other GC activitiesProfits are split 50/50 with some adjustments made based on individual capital investmentsI essentially receive all proceeds from the sale of the homes and write a check to his GC company for the reno costs and his profit shareI have a full-time job with an income/credit sufficient to allow me to purchase homes to renovateHe formed his GC company ~1 year ago and does not have sufficient proof of income to secure loansI think those are the basics for what we are doing. 

This is happening at the end of the month and without giving us as the landlords a proper 30 day notice.I'm taking a closer look at a copy of the least we had the tenant sign, which we procured from here on BP, and I'm realizing there is no verbiage requiring that tenant's give a 30 day notice prior to moving out of their property.