So, yes it is a long-term cash play.My business model targets distressed properties that are in need of much rehab and therefore are not able to be financed by a traditional lender.

ANY agent or associate broker real estate activity has to be ran through the principal brokerage.At least it's this way in my state.You will get companies who try to not disclose involvement or only say they have a small involvement in an LLC etc.The bottom line is there MUST be disclosure that the agent has an interest in the group wholesaling.In our state the reason is we must disclose to the seller we have an interest because we are considered more well trained in negotiations than a traditional buyer.Also you can be disclosing an undisclosed fiduciary duty to another party in the transaction the seller doesn't know about.Example if the buyer is my family,business partner etc.

If one of my direct buys from the asset manager, I either take it or I don't, no contingencies.One thing to note: Almost all the banks have their own addendums and in them, they have pre-set items in them.

This is important because the depth of frost penetration may or may not be an item of concern when determining the repair type (depth of repair, etc).

Travis, I've done a lot of research and talking with mortgage companies regarding mortgaging small amounts like what you have done here and I'd say you did pretty good - probably about the best that can be done with traditional financing for such a small amount (relative to the amount financed for average home mortgages).

Based on the numbers you provided, an all-in cost (acquisition of $50k plus rehab of $22k) is $72k which is 58% of the ARV (the low end you stated) which makes for an extremely good deal if the numbers are what you stated.I would also add that $22k for the work you mentioned seems low to me unless you are working with very low end items.

Does tenant pay for it all including hvac and capx or are those two items + anything else "major", the landlords responsibility?

On Windows XP or Linux and Firefox 3.6 use the Copy Image Location entry.On Windows XP and Internet Explorer 7.0 use the Properties menu item, then copy and paste the "Address: (URL" property.

Northwestern Illinois has traditionally been a good market for Lonnie Dealers as there are absolutely no street dealers in that part of the state, and smaller communities do not have strong sales programs to control their infill needs.

Mark, I too think prices of many day-to-day items are only going to increase as the value of the dollar declines.