3) Were there any rent credits involved?

The only reason they got involved was because I asked to split a unit.We did some wiring updating, gas line updating, sheet rock, and painting.

The skills involved in what J outlined are not trivial.

I will make sure to involve the stipulation regarding primary residence/rental property - I see I have some research to do in this department as well.

I have never met a California investor that has done a simultaneous closing with a title co involved in the last 5 years so Will was probably talking about CA.Most of the deals I wholesale are to other sophisticated investors who have MLS access too.

Conventional conforming loans last time I was involved was 28% of gross for PITI and 36% for all payments combined.If you gross $90,000 that is $7500 per mo and 28% is $2100 PITI.

You need to get an attorney involved.

I'm sorry to throw wet towel on this prospect but as I've mentioned before, some of the best deals turn out to be deals that you never got involved in.

He wants no involvement in acquiring, managing, rehabbing, etc.; only a return on the investment.

& thanks, maybe next year I'll look into what's involved in a RE license.