The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

The reality is about a year ago landlords could sell their properties at a high price without actual NOI.

The argument that was posed was that they're just trying to say they want to buy the contract, but in reality, they're just tying up the contract so no one else buys, and so they can swoop on the property after the 30-days is up.

@Ilir Livadhi I think you are referring to property wholessalers telling you how much the rehab will be - and as you see, their numbers are often not based on reality.

Underwrite to reality, not what you hope costs will be, because they aren't going back down.Post-pandemic vintage syndications:  You are mostly right, Scott, that these investors are cooked. 

The issues really happen when it's just R.E. agents begging for some $, pitching "I can do that too" and in reality there in breach of NAR codes because they don't have proficiency and expertise in it what so ever.

Jan - Mar is brutally cold with lots of snow so very few tourists.

Then reality hits and you find yourself in over your head.

Also, most banks will not allow you to "borrow" your down payment, so what you would need to do is get the 50K personal loan and then have it show on your bank statements for two months (without showing the money being deposited, so in reality this could be 3 statements before you have that. 

Assuming it wasn't addressed in your PSA specifically then it likely should be them, but the reality is it is likely you.