The higher payments can't always get passed on to the renters, especially for the homes "grandfathered in" with 30 year loans - how can we compete?

Most wholesalers (or wanna be) do not add value, are not competent, are not experienced, and do not really understand the process.

You're competing with banks that are offering OO rates under 5% for 30 year fixed loans.

Make sure the entire document is read by a competent person, most problems in practice caused by the things that - at the request of the seller - not to stand.

Half the players and all the dealers know each other on a first name basis, so you feel like you're walking into a snake den when you set down.

There are competent and ethical Realtors and Investors.

I read your blog on one of your back to back closing transactions and it looks like it was a pretty smooth transaction; once you got the correct players in place.

If your post is what it really is, I would tend to think that the mortgage company has a real concern that 'your friend' is trying to pull a fast one, doesn't understand that they pay after work is completed, and/or concerns about the competency of whom is or quality of the work being completed is....if this offends i'm sorry -its not meant to.

You may have a hard time competing with short sales and foreclosures.

start by going to local re club and meeting the major players that are actively buying, find out what they want and get it for them; collect a fee for finding deals and get all the knowledge you can on areas and whats a good deal and whats not; you will have to find the deals which means you will have to try different marketing methods to get sellers calling you; as you do this and are learning from these guys, you will eventually learn how to do a deal yourself at which point the sky is the limit