I get my title searches from a guy who accepts Paypal only and provides no warranty whatsoever.

on the new plumbing code the waste pipe on the bottom side of a tee has to be 2"The side inlet of the tee that goes to the trap can be 11/2 And the upper part of the tee (the vent ) can be 11/2Inspectors may "grandfather" things in at times But mpls/st.paul tend to be more strict 

I also see no issue whatsoever with the equity split.

By doing this you will also get some of the benefit of debt leverage, without having any debt whatsoever in your name.

Better to cut your teeth on something small, then take a 35,000 dollar loss on your first deal. 

The option fee allows you to walk away from the contract for any reason whatsoever during the option period.

There is no obligation whatsoever and applying doesn't mean acceptance into the program.  

If your lending institution gives you delegated authority to approve any deal you feel is a good deal without any oversight whatsoever, I'm not sure that practice would be to the benefit of the institution in the long run.

If they aren't getting accepted it could be because the bank is seeing that they're getting an offer but there's no teeth to it because they could accept and the next day you could back out and never put the EMD up and they'd have no recourse.Since you said your market is hot like a lot of others out there right now, it might not make any difference but it might.

Go with seller financing if you need to, with a note and deed of trust or an installment contract with teeth in it.