It's one thing if they offer a discount to use cash (or cheque) versus a credit card for payment, but quite another if they offer it strictly for cash payment.As long as you are provided with a detailed invoice outlining the work performed; a receipt for payment; and a lien waver, then take the cash discount.  

Make sure you have some sort of document outlining everything2 - Now.  

@Penny Clark Thanks for outlining a roadmap for buying, living, renting, then rinse and repeat.

Definitely take the time up front to completely outline the roles and responsibilities of each of you and find a way to keep each other accountable for the group vision, and it can absolutely be a success!

I talked to my lawyer and he said to charge the tenant the rate outlined in Section's paperwork and deduct the difference in the rent she paid from this amount.

I explained I would present an analysis outlining the ARV with the expected rehabber profit and that I will expect to see proof of funds before I would show my list of cash buyers this deal.His response; he wanted to do a separate walk through of the property before making a decision.

There are many steps outlined that can be accomplished anytime of day.

As  @Natalie Kolodij mentioned, you have to back into your offer price and she outlined it above.

You're outline is great.

Either a property already has an existing promissory note that can be bought, as outlined in the mortgage/deed.