It looks like @Bill Gulley and I had very different interpretations of what @Gary Freidman meant by "actually pay less."  

And, for the record, the state regs were prompted by state level interpretation of Dodd-Frank and the Safe Act. 

Maybe my interpretation of refinancing is flawed...

That way you would both be on the same page so to speak and when each of you look at each others documentation you wouldn't have to struggle to interpret it. 

This is just my interpretation. 

Seehttp://watsoninvested.com/wholesaling/(I'm not an attorney so the following are just my opinions and interpretations)Wholesaling (assignments and back to back closings) is legal in Ohio.

But I'm buying almost 300 units using my underwriting right now so I'd argue that it isn't Ben's underwriting, but that this is a difficult market to interpret and he hasn't figured out how to read it yet. 

A lot of times the misunderstanding is from either ignorance from the loan officer or from in experience from the borrowers point of view because sometimes the loan officer may be setting up the right expectations but the knowledge needed to interpret the expectations may not be available so there is more hand holding that is needed for first time buyers.

One call to the tax collector office, and they can tell you how to interpret the information.

You can try to contact H&M and see if they will give you their interpretation of what FMV and go start with 2/3 of that to see if you can draw a counter out.