After multiple discussions over coffee, he presented me with an opportunity to partner on a wholesale.. my feeling is that he really doesn't need my $, but rather is presenting this as an opportunity for my to learn and get involved in a deal with him.

No need to be an, accessory after the fact, because of your tenants illegal entrepreneurial pursuits.  

My husband is sitting for the class A license next week, so I don't expect this to be an issue for us, but being a stickler for details, I was wondering if any of you are familiar with this being the law in Virginia?

Rick Perhaps the three of us can grab a coffee soon - except the coffee I've owed Rick now for over a year has compounded to at least a lunch by now, maybe more....  

While they may be an "agent" in the common parlance  they are not "your agent" until you have a contractual agreement that they are representing you.

That would count as one.But I don't think financing will be an issue.

Roofing can also be an expensive nightmare...we often find 3-4 layers of cedar shakes then a couple of layers of roofing tile on sagging pine planks 1-2 inches apart.

That can be an overlooked cost if they are not metered properly. 

I recommend you join the local Real Estate Investors Associations (REIA) to be around like-minded individualsFor real estate investors in Oklahoma City, we have:1st Thursday of every month www.mpreia.com 2nd Thursday of every month www.okcreia.comFor entrepreneurship & business in Oklahoma City, we have:2nd Wednesday of every month "Coffee with Entrepreneurs" www.okceg.com4th Thursday of every month www.OKCEntrepreneurGroup.comI am a local real estate mentor and business coach so if you ever need guidance and accountability I might be a resource to you.Enjoy the day,Ron HarrisThe Renascent Entrepreneur

The ARV on this property $83,832 what would be an intelligent seller financing offer on this property that can be rented for a $1000....can I offer this person two options...seller financing or cash offer.