This is a question for a CPA but you may want to wait to talk with one until after the tax reform bill that was proposed today is either passed or rejected.

He also said that talking to banks/lenders is way more informal than you think, you just have to get over your fear of looking stupid/getting rejected and do it.

@Hannah Kingslien Before sending any kind of rejection letter make sure you know the reasons for which  you can legally reject someone for in your state.

. $2M offer rejected. 

I have read the BP book so I know how important/ fragile  is can be to reject a potential tenant  the right way.

@Winston FergusonWhat are the rejection reasons you get from the lenders you have spoken to?

In my discussion with the banker, if not for the special promotion promised at the start of the auction, and since comps exceeds the mortgage, it is a bid that would normally be rejected based on their standard protocols.

You refin can get rejected if you are not completed with the renovation.

We were supposed to close tomorrow, but the lender called last minute and said our business tax return transcript came back rejected.

regarding a licenses, you dont need one to write an offer on your own behalf, you would need one if you did it for someone else. as for wholesaling, that "and or assigns" that is usually put in an offer to be wholesaled, pre crash, we saw it all the time, today, bank sellers will reject those, and any regular seller with knowledge, or getting legal advice will want it removed, its telling them they are leaving a considerable sum on the table.