Don't wanna do it free though, so make sure you charge that assignment fee.I am very transparent with both sides, even though some " trainers " suggests otherwise.

I also think Brad was implying that you can conceptually view paying for the rate lock as a "buy-down" and if your time horizon is greater than 5-6 years ... you'll be reimbursed and eventually earn savings (without accounting for inflation).

I'm also new to the real estate space, but I think what Karl McGarvey is trying to imply is you're going to be allotting most of your CF and your refinanced funds into a home that can only make you so much money(cf).

For example, $1200 rent implies one month extra vacancy is equivalent to a $100/month rent reduction at a one year occupancy.  2 months vacancy equates to $200/month rent reduction. 

Read it slowly, as many times necessary, until you understand what it implies!

I agree with others that they are largely interchangeable, though I would add that operator implies active management while a sponsor or syndicator may still end up hiring a 3rd party manager.

--(1) it was assumed in 2012 by buyer-2 from buyer-1 at $110,000.(2) the contract was unclear chicken scratch changes rather than going through a title company to either renew or revise the agreement that shows who it was assumed from/buyer-1  to  buyer-2(3) an escrow service company was not used on the transaction for payment disbursements to be properly recorded, potential mismanagement of fund disbursements.(4) buyer-2 paid property taxes direct to the county, which should have gone through escrow service had this been done right. (5) back taxes as of 10/31/2021 $9,125 due to lack of escrow service, potential mismanagement of fund disbursements.(6) there is no paydown amortization table for the deal so I had to recreate it for everyone to figure out the payout balance from the time it was assumed in 2012 to 2022, which is at $95,000 using an online bank amortization calculator.(7) buyer-2 made $23,000 overpayments to principal direct to 3 different bank accounts for the owner/family since there is no escrow service company ($23,000 overpayment to principal implied, factored in buyout offer/term from my company as investor since there is no paydown records from owner (8) 95,000-23,0000 overpayment of buyer-2 = 72,000 is the buyout amount I am presenting in purchase agreement plus concession to pay the back taxes and closing fees.(9) I would be the investor assuming the note for buyer-2 and enter into a new seller financing agreement with my company at $70,000-$75,000

It is oversold and I hear from other investors who talk about sponsors implying these are tax-free investments, which as Arn and you both state, they are not.

This implies that structural movement of the building may have occurred."

Tax liens sound great on paper but it is very competitive and nowhere as easy, profitable or risk free as implied by the Gurus that push the idea.