I am also looking for an experienced mentor in the area I could exchange correspondence with.

Hard to answer this without knowing any of your numbers but a rough way to calculate would be to take your projected profit and give me an additional % that corresponds to a fair hourly rate for the time and expertise he will be putting into managing the project.

I look forward to any or all correspondence.

This is exactly why I still feel like I want to get a lawyer so that they can do all the correspondence with this jerk.

I assume this is pretty easy since it would seem that the borrower is making payments on this mortgage or at least getting Mortgage Servicing correspondence for this lien.

You could send out more or less, keeping in mind that the more correspondence you send, the more responses you'll get.Side Note: I've been seeing quite a few complaints from investors that wholesalers present comps and repair values that are innacurate, so if you would like to earn the trust of investors in your area, please find out how to presents accurate repairs estimates and comps!

Your operating agreement must state that each owner's distributive share corresponds to his or her percentage of ownership.

All of my correspondence to date has been very positive.

I won't go into operations or correspondent lending relationships or compliance, but loans are blocked and sold as well as purchased.

Some are lenders, and some are brokers who are acting as a correspondent, and sadly, some are banks, too.Still, it's up to a borrower to ask the right questions as any salesperson, and that goes for banks as well, can make a used clunker sound good if left unchallenged.For me, it's very important to know what a lender I'm submitting deals to is funding, what they're thresholds are, and who I'm dealing with.