I like restoring homes and this was perfect.

25% of the profits off the top and then split the rest? Or

I love older properties as in my area they often have the following:8" or bigger baseboards with fancy trim on topCrown molding4" door / window trim with moldingstained glass windowstall ceilingsantique fixtures that can be restored clawfoot tubsvintage sinksOf course, older homes also have their issues including:multiple layers of poorly applied paintwater damaged plastercracked plasterdamaged ceilingsun balanced windowsmissing storm windowsfoundation needs repointingfloors need refinished / replacedfloor plans are not always ideal, and have sometimes been changed from their original designAll that said, when an older home is revitalized IMO it is more desirable to a renter than a sterile apartment without the rich finishing despite when it was built.

It varies state by state on what level a real estate broker/agent can help a seller with a short sale on the residential side.In some states brokers/agents simply submit a contract and attorneys for the parties do the rest.In some states brokers/agents can help with workout options but in other states they must hold a mortgage license.There is also Federal requirements and disclosures brokers/agents must use when listing a short sale.The government calls it "the short sale streamline process".I call it a bunch of red tape that isn't needed which creates more government oversight and bloat wasting our tax dollars.Depending on loan type if the property is FHA then they can only accept a certain amount off of appraisal.A few years back it was easier to massage the bpo using different strategies to get close to your purchase number.Today more banks are using agents with experience doing bpo's and also the banks have controls in place to almost eliminate any manipulation by investor purchasers on value.Another point is if your area is declining by 1 percent a month and it takes 3 months for an approval by the time you close you have lost 3% in value.How you approach a short sale and an acceptable number will depend on what you are doing with the property.Margins and hold times are different for assigning,flipping,and rentals.

They virtually disappeared for a couple of years, there's a lot of cash, money is cheap and good deals are not as frequent as banks are controlling (managing) their inventories to massage their books over several quarters...

It looks fully restored and they have a website with tons of photos: http://www.mcgillmansion.comWhile a beautiful and historic house, I'm a bit befuddled as to why someone would buy the house unless they already lived in Mcgill (McGill is in the middle of nowhere... literally).

If he is not going to get it fixed today ask if you can hire an IICRC certified restorer and give them the bill or take it off the rent. 3 days with no action is not good.

If it's off to the left (I see what looks like electrical conduit on the wall heading that way), I would restore the exhaust port the way it's supposed to be and construct a small little wall, a barrier if you will, between it and the A/C to keep the air flow and lint away.

The average house I would be considering would need another 5K restore it to A+ rental condition.

If the paint is just faded give it a power wash then wax it with any brand of wax that says it's for paint restoration.