If we buy this loan, we need to have a thorough game plan on how we are going to be resolving this and understanding these dynamics is key to managing expectations and protecting investments.Sounds like a deal more for someone that buys partial inheritance estates and spends years piecing it together than a note investor.  

He spend $3k fixing it up, rented it for $700, but lot rent was $300.

If you are uncertain about any of this I would recommend spending a little on a CPA that understands RE investing.

I'm sure this was not comfortable or fun to spend this money for the fixes but the fact that you were able to find a way to do so and stay in the game is really a feat so kudos there!

Obviously, they will pay less for these loans because of the resources they spend upfront.Most of the larger private lending firms will participate in correspondent loans.

Summary: Portfolio product with 1% minimum down payment and no PMI requirement designed to benefit those heroes who serve and protect our communities.

To make the job flow easier, but also (mainly) to protect myself if a customer changed their mind later ( which was common).

I know he taught almost all the coaches that followed but I did not want to spend the money to work with them.

Depends if your state or local laws have Source of Income as a protected class or not.

This way it’s no up front out of pocket expense for me and they then have the extra money to spend as they need it.