Guidance memos, regulations, and enforcement policy as issued by the executive branch of the government (whether state or federal) as well as case law further expound on the law. 

The hard parts are setting up the relationships and trust in that team necessary to be able to execute on the plan, and making sure that the deals still pencil with all of the people involved. 

“The Mortgagee must prepare form HUD 92210.1, Approval of Purchaser and Release of Seller, thereby releasing the original owner when they sell by assumption to the assuming Borrower who executes an agreement to assume the Mortgage and to pay the debt”.In general, at the time of this writing, HUD 92210.1 is the only documentation that specifically releases the original borrower from the obligation of the mortgage.

What are some key factors to execute to make sure that everything runs smoothly 

I've seen properties on loopnet that I thought would be considered class A because they are newer (5-10 years old) execute office suites listed by the agents as class B along with apartment complexes that are 15 years old.

If your offer was executed by the seller, then yes you have a binding offer subject to lender approval or any other conditions stated in your offer.

The appraiser can use potential rental income in the appraisal report to calculate the potential rent and you can use that to qualify.If you already own the property, meaning, if you purchased with hard money and then are refinancing out of that loan, then you would need an "executed" lease. 

The end buyer must adhere to the terms of the purchase and sale agreement executed by the wholesaler.

This leaves borrowers vulnerable to rate movements, which can affect loan proceeds and other terms.Hope this helps provide some color on what options are out there! 

We also have consistent rehab processes, buy things wholesale, and have streamlined our operations to ensure that each rehab is executed efficiently and to the same standard.