Then we make $40,000 and split THAT profit 50/50"We subsequently did exactly that and split $38,000 after all costs.  

(Actual %, friend is a realtor/manager, gives me a great rate on properties I buy through him if they're in a good area)10% Maintenance/Repairs -- ($165/mo.)NOI -- $12.4KCash Flow -- ~$40/mo.COC -- 3.5%Cap Rate -- 8.6%Total ROI (Including Principal Paydown) -- 45% in first year (goes up in subsequent years with additional principal pay down)I think I did well for a first buy.  

This flip and the subsequent marketing that I am doing to find other deals has basically turned into fulltime work for me as well.  

Assuming that you're in a city, the answer, and any subsequent answers to how it can be done if it can be done, will be largely driven by your city's land development code.What can safely be assumed though, is that you'll have to have some sort of street access.

In subsequent calls and emails, I stated that if there was a reason he was not showing the house or accepting a contract, I asked that he just give us a quick call to let us know.What's really confusing is that his "about me" page concludes with: "(name) looks to build lasting business relationships with his clients and always represents their best interest.

In my experience, rentals in Edmond vs. the rest of the city get better tenants subsequently less headaches.

I'm thinking only if the wholesaler recorded their contract and a subsequent title search (post sale, of course) showed a different owner.

The subsequent signing of a "commission split agreement" even though later, would likely make that enforceable as well.  

He & his wonderful wife were gracious enough to hard money several of my early investments that subsequently paid huge dividends.

If Landlord determines that the Tenant is in default of this Agreement, Landlord shall provide Tenant with a notice of default, and Tenant shall have a limited number of days to cure the default unless otherwise excepted: (a) for the failure to pay rent when due, Tenant shall have three (3) days to cure; ... or if the default constitutes a subsequent or continuing default within twelve (12) months of a written warning by Landlord of a similar violation, Landlord may deliver a written notice to Tenant specifying the default and Landlord's intent to terminate this Agreement.