Turned out, it was a broker who I was corresponding with.

Since all of our LLC's are disposable, and are usually no older than 6 months old before they take action (close on a deal), and the only reason for the LLC being in place is to make offers, checking to see if there is anything in play isn't much of an issue...not much to check.Also, we have an addendum as part of the LLC transfer defining the timeline between ownership...and corresponding financial and legal responsibilities.  

TIRE-KICKERS will often refuse offers to speak via phone or in person, preferring to keep correspondence limited to email.

Has anyone ever heard of, or worked with a correspondent lender.

Hi Karin,The above you mentioned used to be the case with FHA flips that were probably ear marked to be sold to Wells Fargo as one of their secondary market conditions was two appraisals if the sales price was 20% or higher than the acquisition cost when documenting the 24 month chain of title.I understand your frustration, they (Wells) just want to make sure that banks on the origination front do their proper due dilligence with valuation and documentation of the value to ensure that they will not have to buy back that paper from the correspondent lender (unless your dealing directly with Wells Fargo).Its hard unless you ask but if you find a banker who is originating loans and directly selling/servicing their government loans to Ginnie Mae(GNMA) then they may not require you to have the two appraisal and additional procedures because its not necessarily a GNMA requirement but rather banks on the front lines trying to reduce their risk and requiring these additional steps from you to protect their behinds.Generally you may find that on Flips they may need the appraiser to go out and certify that the property also passes FHA's health and safety standards as well so dont be surprised (double strapped water heater, CO detectors, etc).In the past I've had to show excel break downs of work done, invoices, bill of sale's, and others too but that was back when New American Funding sold the paper to WF (not any longer =).

So, while the dollar amount of property changing hands increased dramatically during the bubble (I suspect, I couldn't find specific data), the income per agent didn't increase correspondingly because many new agents joined the business.The article makes a second point.

That means all correspondences are done via mail, email or texts.

They quickly tell me they can fund my deal then at the end of the correspondences after a few days of emails, they are ready for me to pay them $500. 

A lot of people have mentioned buying a multi instead of single family home,@Dustin Beam @Jason DiClemente @Mandy Ellett @Amber Koontz or anyone else, could you explain why?

It will certainly skim a lot of margin players out of the game altogether - if you're making $100/unit and rates go up by a percent, and you can't raise rents correspondingly, you're breaking even or losing money (on future deals, not what you've got locked in).