I set this up to payoff when the underlying note is due.. so in theory if it all works I get the use of the 100k  My seller carry back interest rate was higher than the rate Im paying my bank and so I make some cash flow on delta and there you have it.Now of course what happens if my buyer walks or can't pay.. well I then have to pony up the 100k or get an extension from my bank or find another..

I agree with what you said, if you provide the plans, put it in the contract that he is to follow it, and or repair/replace if not done correctly.....if not file suit.Also after reading some of the comments from others, I feel it necessary to say that sometimes depending on the contractor and how extensive the work maybe I try NOT to make it to comprehensive with contracts or etc, because this could scare some of the smaller guys who are reasonably priced away.

@Stacy Jordan, "experienced investors" like this are not usually motivated enough to let you have it for less than your Wholesale price ie. they can usually find Flippers easily enough themselves.Perhaps you should be asking your already-existing extensive list of Buyers this question?

Also, do you know of a good realtor that has extensive knowledge of this region and that can help potential investors?

Make sure you're doing an extensive amount of research on areas and neighborhoods, work with a local investor or agent, and enjoy!

I just went through this but did a more extensive rehab.  

I was informed by my agent that the LA stated WE needed to send them an extension addendum to which my agent replied we are not the ones requesting the extension so the seller should supply this.Title agent gave a list of items to be completed before sale of home including a death certificate needing to be recorded, a re-foreclosure against heirs, etc. 

Is the buyer willing to offer an extension so you can get the tenant out and get what is due you? 

I am located in Southern MD and have extensive experience in Waldorf.  

I have done pretty extensive research in what type of property to search for and already have a list of most-least potential properties in our area.