But the risk to the seller on this deal is immense you have a guy tying up a property who has no ability to close it and then sell it to whoever will give him money and that person could be nefarious get into title rip rents could give 2 craps about the sellers credit etc etc..

@Sonya Sharova I haven't personally done Frank Rolfes boot camp but I have heard it's great.

Personally for what people charge for these programs I would say you are 1000x  better off taking some courses at a local college, getting a degree and working in real estate to get paid for experience and then do real estate on the side for your own portfolio as well.

This is so I know if I should keep the person I currently have.

Now, if you haven't yet, now is the time for you to go see the situation in person.  

With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky. 

These are usually from personal connections we have made through the years and the investors usually want proof of experience to participate in any deals.Can you recommend any lenders in particular for SBLOC product?

Gator most of the risk is on the person providing the earnest money.

@Mario Morales - Personally, I would do some research in your target market and search (even it on zillow) for 2-4 family properties and see what agent(s) seem to transact the most in that space.

Fewer still actually show-up to deliver the value in-person.