I will say that once you find a lender and terms you are happy with I always encourage people to move on as you have a number of other things to worry about with these types of transactions that will need your attention. 

Who is financially liable in a wholesale transaction?

John does not plan to take on any debt for the new transactions.Questions: Is the transaction in 2. legal ?

Hey BP,I'm looking to do my first subject-to transaction since the house I have under contract needs very little work.

I have never been involved in a hard money transaction before so I’m looking for any advise and/or suggestions on the subject.

Cross your fingers that I won't get to this point!

If there was a Foreclosure Auction checklist that one must do for a successful clean transaction, how would it look like?

So say its really 50k purchase plus 25k rehab based budget plus 10% reserve ( $2500) all equals a transaction of 50k + 25k+ 2500k= 77,500 so 20% down of that is 15,500 down.

I have found that my background in a high stress area of nursing has suited me well for real estate transactions. 

I know he's open to negotiation but at this point my eyes are starting to cross running the numbers over and over again while changing the variables.