I decided to do a lender borrower arrangement for this deal.

Everything Mario tells you is a lie and he hasn’t lived up to or kept any of the terms of the arrangement he made with us.

I arranged to have a handyman rehab the unit while I was out of town the first week of this month.  

Despite this awesome arrangement, the city's mismanagement has caught up with it, and property taxes inside the city are beginning to skyrocket.Illinois has two saving graces: New York and California. 

If you're a first time flipper, I recommend getting your cash/private money/hard money financing arranged first and then find a willing agent to shepherd you through the acquisition and ARV estimation. 

The reason I do not utilize the purchase option is that I don't really want the property and most investors wont enter in to that type of arrangement. 

Any and all advice on this arrangement would be super appreciated!

@Eric Trompeter I am working on setting up a similar arrangement right now.

Although the insurance company, contractor, you, and the bank can make whatever arrangements you all agree to even before work begins. 

After the last deal & the first partnership, I realized I can put together these syndications more often if only I met more people who would qualify for this type of arrangement.