In my county, they have an accepted practice of the attorney stating the "upset bid" as being the amount the lender expects to see in order to let somebody else get the property; and the attorney's actual bid will be given as "costs", an amount far below the "upset bid" (this practice is used so that the lender does not have to pay additional amounts sort of like commission to the sheriff based on highest bid received).

Based upon your financial contributions you receive 85% and he receives 15% of the shares.

What I mean is that, this neighborhood is in the dumps because the community of people living there are in the dumps by mind, body and spirit.

The buyer's agent would receive $1500 from the listing brokerage and $1500 from their buyer.

I am supposed to be receiving the current profit-loss today on two properties.

Well, you could have your attorney draw up a non circumvent agreement stating that if you bring a buyer you will receive " X " at the time of closing.

I was told you don't need any money to wholesale real estate but by the response I been receiving that doesn't seem to be the case.

Maybe this is why it didn't receive the fanfare they expected. "70% loan-to-value limit except for investors with more than 4 properties financed." 65% for over 4 properties up to 10.

If it is legal, what requirements will there be to receive a certificate of occupancy?

The reason you are getting what seems to be a lot of misinformation is that this is an extremely complicated subject and the advice you receive depends on a number of circumstances that are unique to you and what you are trying to do.