“Many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge,” he writes.

If not, on your subsequent mailings, do you maintain sending to everyone on your list?   

That said, as in a due on sale clause, you may not be able to seller finance to a subsequent buyer depending on how you structured your original purchase contract, but otherwise it should be fine I think.

If you double close, (personally close on the A-B side, then subsequently sell to C in a separate transaction) then you may be required to pay your broker some form of commission split (again, depending on your contract) The rationale is simple.  

We specifically set out to discourage hopeless applications at the earliest and every subsequent stage.Stage 1 is when you first show interest on the phone.

You also said you ramp it up for the first year so was it 6k for the first year then a separate amount in subsequent years? 

CMHC-insured financing can help open the doors to homeownership by enabling homebuyers to purchase a home with a minimum down payment starting at 5%*.Features Loan-to-value ratios up to 95% for 1 – 2 unit owner-occupied properties.Loan-to-value ratios up to 90% for 3 – 4 unit owner-occupied properties.Down payment flexibility — In addition to traditional sources, non-traditional sources of down payment are permitted for loans with loan-to-value ratios from 90.01% – 95%.Flexible financing options — single advance and progress advances are available.CMHC-insured mortgages are portable — helping to reduce or eliminate the premium on the purchase of a subsequent home.CMHC homeowner mortgage loan insurance is available to a maximum of one property (1 – 4 units) per borrower/co-borrower at any given time.CMHC offers mortgage loan insurance premium refunds for homeowners who purchase an energy-efficient home or purchase and make energy-saving renovations to an existing home.

However illegal flipping opens one up to criminal prosecution.All one needs to do is google "illegal flipping" and you will find a plethora of information on the subject, from HUDs 2003 memo and subsequent guidance memos, to Freddie Mac guidelines etc.I think the problem for many on here to understand is that they were not doing business when this was a prevalent occurrence, and the people most familiar with it are probably appraisers, lenders and agents...and less so investors.

One specific question I have with this group and others is what prevents a sponsor from refinancing in the latter stage of a deal and simply returning only an investor's original capital contribution and then subsequently selling the property and keeping all of the appreciation for themselves?

I would also assume that entails having to work and subsequently pay-out part of my commissions to that broker in the event I do close on properties.Any advice from individuals who have had the same thought would be great.....thanks everyone!