If so, I would like some genuine advice.

Basically, if you can't (genuinely) guarantee quick closing - you're not ready to roll yet.Looks like you DO have a good grasp on how to assess comps*, so THAT'S a start.

Might have to use different/new contractors.Green – ActiveRed – Inactive for Non PaymentYellow – InactiveOrange – Current Transformer Rated MeterBlue – Meter TamperingMetal - old tags

I am a boglehead who is transforming into real estate investing, specifically notes investing.

Just don't let him make you PROMISE to "purchase his shares" (which is what my assumption was from your first post), and he can be a genuine JV partner!

Quite the transformation, congrats on your success and good luck on the next one!

@Logan Halliburton, I'm very cynical about the idea of a Company setting itself up as a "Turnkey" Company whose promise is to "wholesale" a distressed home to you, and arrange all the subsequent rehabbing, and provide ongoing property management, and still cost you only 70% of a Lender's genuine appraisal for their re-finance, so that you'd get all your outlay back again.

(if he wants to control when earnings are repatriated to Canada, then he's looking at incorporating an entity in the U.S.)The best advice for him is to jot down his situation and objectives in point form, then find both and accountant and attorney who have cross-boarder business and real estate experience and spend a few hundred dollars to find an ownership structure which fits his immediate needs, but that will grow with him, or can easily be transformed to meet is longer term objectives without creating a nightmare of taxable events.

Just spending a few minutes on here has transformed my perception of real estate investing from something that scared the hell out of me into something that I am so eager to learn more about.I'll try not to quote too much from my profile, but having just written out all that info, it's hard to be creative again in such a short time, I never was much of a writer anyway.

Its a very active area that the Metroparks have really transformed in recent years....Anyways, that's my 2 cents....