The only way your partners would have a leg to stand on is it your contract stated specifically that you were limited to X amount of profit on the construction side of things, or if you agreed to X materials and provided an inferior alternative. 

Never appreciate and never use $/sf of inferior properties.

The vast majority of insurance people out there do not understand this because the majority of them are not active investors themselves and because of this, provide incorrect information and either inferior products and in many cases, based on my experience, the absolutely incorrect product altogether.

Hi Guys,Seeing that ARMLS has discontinued IMAPP tax search, the replaced it with the inferior Monsoon, how is everyone pulling mailing lists?

I think they have been around the longest of the three but I found their options to be inferior to Fizber.com.Owners.com is basically a flat fee MLS only site.

The HOA's seem very high and the outside of the property looks far inferior to the properties around it.

I was reading BP for weeks and educating myself.I am looking now for one foreclosing property here in OH and probably will try to buy it for rental purpose after rehab. it has an attractive $20k starting bid in $80-90k neighborhood.As was recommended by many BP PROs I am working with a title company on title search already, but as I am education as well I am checking all available online documents about this case as well.I found the Magistrate Decision doc where they mentioned that this First mortgage is foreclosing , BUT the City and State of Ohio department of Taxation figuring as a Defendant too and in decision is stated that City claimed "some rights, title, interest or lien upon to the premises, but that any right, title, interest , claim said Defendant MAY have is inferior and subsequent to the lien of Plaintiff "As I understand that foreclose process will extinguish all those "inferior liens".Am I right in my understanding?

If you are the high bidder on a lien that is inferior (recorded after the first one) you are still obligated to pay off the 1st one.

Also, as a licensed person, you will be assumed to have "superior knowledge" in dealings with principals in your flip deals, which has the potential to come back and bite you if for example you purchase a property way under market price from someone deemed to have inferior knowledge.

More often than not however, we don't because the other bidders ballpark  or gut guess the cost of the job, which no one realizes until the project is in trouble, the contractor bails because he's losing his butt, or he's doing crappy work and using inferior materials for the same reason.