You can find us on Meetup under St Louis Real Estate Club.

Most contractors understate valuation for the permits .

And, agree with others, you may be understating expenses a bit. 

They knowingly or unwittingly inflate the retail value, understate the rehab costs, have no ability to close on the deal if they do not find an assignee, who often times are as ignorant as they are, and, in short, give a very bad name to the industry as a whole.  

I got some sensitivity training in this thread for agreeing with a comment made about a sucker being born every minute, but the truth of that can't really be understated, IMO.

There is no shortcutting or understating the importance of due diligence.

Even though Life Co's are routinely responsible for 10%-20% of all originated commercial loans, their role is often understated.

I know and understand what Gladwell says in Blink but I think he wildly understates the very great power the subconscious has on decision making.

At closing, the deposit is credited to the buyer and reduces amounts due.You can eliminate the use of cash for an earnest money deposit by providing a note or even agreement to hold a draft (which is done, but is ofetn illegal under state law).

Federal brokerage laws apply depending on the type of loan.The type loan advanced determines what laws apply, residential loans will kick in RESPA and a bucket full of other regulations.Advertising to make loans is also covered under state and federal law, I suggest you not advertise on CL in Mo. or most any state for that matter, there are federal financial advertising laws.