I would dig out the loose stuff and patch it.

I have a partner (childhood-friend, non-veteran) who would split with me the down payment in excess of the entitlement ($649K for San Diego) and any renovation costs. 

You only loose when you sell.

Banks don't do Heads you win, tails they loose. 

This seems definitely excessive to me.Thanks!

I could see realtors loosing a majority of their function for facilitating sales outside of being buyers reps.

If they are multiple years behind they are likely not going to come up with the money and would rather get something rather than nothing.I have also made loans at high interest rates to people who didn't want to loose their house.

I am most interested in the power of choice, having excess money provides.After listening to Podcast #222 featuring @JayHinrichs last night and then spending a little time on the forums, some things really hit home for me:#1- Take advice from people who aren't trying to sell you something. 

You find motivated sellers same way a wholesaler would, however now you are seen as a professional & you have 1,000's of other agents at your disposal to help you market for buyers.......Sound a lot better than blasting up craigslist ads & praying you sell the house in those 30 days before you loose that earnest money?

Its easy to loose a month if not more when turning a unit.