My twin brother (we're fraternal twins - we don't really look alike) has a finance background and my younger brother has a communications/sales background.We are looking to gain experience and knowledge through wholesaling and quickly move into rehabbing properties.

So rather than assume people understand, we are now taking a more educational approach to each investor and on each property we sell.Marquis has been doing a fine business since 2009, but boy have we had to learn some lessons.

Don't underestimate how much a finance degree will help you along the way.

If the two appraisers arrive at different valuations, then these two valuations shall be averaged in order to produce a final valuation.

The seller will still owe a commission if they were the procuring cause of the sale, so use them and stay out of trouble.Not his residence, then the SAFE Act and Dodd-Frank most likely apply, you need to see a mortgage originator.Your best bet is to lease it, put it under contract with a finance contingency with the agent (you need to have an agent, I suggest you be represented and the listing agent doesn't represent you) and go conventional with your friend if you need to.

Steve, Best way to make 200K in financing without a finance and RE background is to start out with 400K.Financing is a highly regulated business, if you have money I'd say speak to your attorney.

A final walk through inspection, escrow funds if you find damages or if their items are not out of the house on time, how much you might charge them if they don't vacate on time, etc, etc.

I think I paid $400 and $700 for these inspections.Even though I am pretty handy and have done my share of rehabs the fact that I knew that an inspector was coming allowed me to slack off and not go over the properties with a fine comb myself.

Respectfully, with an explanation that it is in their best interests to cooperate if they want the option exercised and the house sold.And I hope you hear what Bill Gulley is saying, and aren't claiming that you are a final buyer with "partners" as opposed to a wholesaler selling an option.

The gutters however are attached to the dwelling and usually are a required repair regardless of the value of the repair.There will be a final inspection by the appraiser to give a final value after repairs are made.I suggest you contact your lender and inform them of the seller's intentions.There is another solution that might be possible.