The plan funds the transaction, the property is properly titled and John earns a standard commission which he puts in his "personal" RE business.

I'd like to buy a home soon, and I don't want to wait long enough to save up a proper down payment.

My though twas the IRS would look at the owner from a legal standpoint which would be me as title would be in my name but again the land contract would be in place giving them vested equity well thats not the proper term, proper term eludes me right now, but you know what I mean...thx Steve!

Brian,In your listing agreement you signed it should say acceptable forms of communication that are selected e-mail,written,fax,certified mail,etc.If e-mail wasn't selected then contractually that is not given proper notice for a price change.Did she confirm BACK to you when you sent the e-mail about the price drop??

Paperwork for the contract is easy just fax or scan and e-mail.

Is there anything specific I need to look out for to make sure the problem is taken care of properly i.e damage to the structure etc.

Not necessarily for the actual default but in the future, if you don't properly disclose that default at every turn, you have committed fraud.

That is, can you ask some questions and identify whether a person is going to be in your category of motivated seller for whom you can solve a pressing problem, and if they don't fit categories A, B, C, D, E, F or G you know you probably need to move on?

-Visit local REI clubs;-Word of mouth, it's amazing how your network grows when you let people know what you do;- Might not be the group you are looking to work with, but the courthouse steps will have investors;- Perhaps sharing deals when you first start out will give you exposure to other bird doggers/wholesalers lists;- Advertise on CL, in your local papers etc. that you have houses you are moving on to investors, and to call/e-mail for information.Creative thinking is the name of the game, It'd be something fun to dabble in but I have other things to occupy my mind; hope that kick started a few thought processes.Andrew

Most of these appear to have been very poorly executed.The available space after creating proper wall heights yields about an 800 SF studio unit.