Sometimes I click those adds on a accident...

The loan to the end homeowner occurs when the flipper sells to them some months later.

These are the best books that I've found for beginners for fix-and-flip and wholesaling:------------------------------------------------"FLIP: How to Find, Fix, and Sell Houses for Profit"Rick Villani and Clay DavisISBN-10: 0-07-148610-0ISBN-13: 978-0-07-148610-1"Getting Started in Real Estate Day Trading"Larry GoinsISBN-13: 987-0-470-41862-8 (cloth)------------------------------------------------As for earnest money deposit, it's not legally required for a valid binding contract (EMD is a deposit not consideration), unless the parties specifically agree in the contract that EMD is required or there is an unusual situation like California pre-foreclosure of an owner occupied home (in that situation CA law requires a nominal cash EMD of about $100 if I recall correctly), and some other states have some inane consumer protection laws regarding pre-foreclosure of owner occupied homes.Having said all that, if you are buying from a For Sale By Owner (FSBO), then I suggest using a 0% interest promissory note for the EMD, that is redeemed upon completion of the inspection period or upon contract assignment, whichever occurs first.

Roofing is a dangerous trade and accidents are all to common.

Sell the beneficial interest on a "contract" to give you more control (and less risk) if default occurs.

And with all the overbuilding that occurred, there are a lot of opportunities out there to buy below market.

Watch as sales occur and what price it bought.Once upon a time we were looking at houses in Sugarland, TX.

That works a little differently for a condo, but all those same expenses occur and go into the HOA fees and special assessments.

I would guess you are closer to 10,000 minus taxes on the income if any - still not bad, and if you get out of the property soon enough, you won't have to replace the roof or any other soon to occur major expense.Keep us informed on how it unfolds.

That being said, accidents do happen so you can just try and work with the bank to get comfortable.