In my market the default on the purchase agreement calls for mediation/arbitration. 

After eviction he was given 45 days by the court ordered “mediater”.

If your next step is going to mediation, then it is a waiting game.

If you buy the property and there are environmental contaminants they would become your problem and it is not cheap to have them re mediated. 

I am a woman if my word, but this was offensive and  ridiculous because we hadn't  discussed details. so, at first I was thinking no way I sign this one paragraph agreement with so many holes, but my other option knew was to fight for another month or two (I had called local mediation and they had said it would be 3 weeks before they could meet with us.) this paragraph guaranteed they'd be out by the 20th, and would surrender their deposit...I signed it and they are moving right now. not sure if I did the right thing, but sometimes you gotta compromise some security, and take a chance like this, and I am so glad I did. lesson learned was always assume anyone can turn into a lunatic, so do your paperwork, and keep immaculant records.

@Bob MaleckiI have two in cuyahoga right now both over a year because borrowers asked for mediation and judges are very liberal / borrower friendly.

The house is discounted, but I was worried that it would be mold that could result in some tough times getting financing or costing a lot in mediation?

your partner should be only passive as a "limited partner" and does not have any say.. to avoid stalemate on these ticky tack decisions you should have a minimum of say $5k where your partner will play a role on the decision.. and perhaps choose a mediator "a seasoned investor" who both of you agree to that can decide an outcome..

Go on YouTube and type mediation music and sit there and breathe.

Hi all, I'm based in the Los Angeles & Orange County, CA area and am interested in flipping homes.I have one quasi-BRRRR deal under my belt.About me:-Former Fortune 50 Commercial Real Estate Banker, specializing in distressed assets (restructuring/modifying notes, pursuing guarantors, foreclosing on assets)-Varying degree of experience in legal remedies (mediation, arbitration, bankruptcy etc.) with inside/outside counsel-$500,000,000+ RE transaction experience from west coast thru the mid-west-USC Business School Alum w/concentration in Real Estate Finance & Development-Licensed REALTOR in CA-Hands-on experience rehabbing real estate (full kitchen rehab, flooring, painting, spraying texture, removing load-bearing walls, bathroom rehab - have pictures from BRRRR project)[QUESTION] What is the proper approach to seeking a local mentor/partner on BP?