These guys can close quicker assuming third parties don't delay things.

These guys can close quicker assuming third parties don't delay things.

The difficult part is our buying criteria has to be no more than 78% of the ARV (This includes purchase plus rehab) and also needs to be within spitting distance of the 1% rule.

FINDAMORTGAGEBROKER.COM is definitely NOT a 3rd party directory! 

My suggestion, before spending a bunch of time on talking with lawyers (and money) maybe find your partners and develop the structure that would be acceptable for all the parties involved.  

Transfer to LLC was the easy part. I

Last week I was at a party and a guy says he bought a 1225 SF place for $700K and only 625 SF is permitted but the other 600SF was unpermitted and that the appraiser used all 1,225 SF to come up with the value.

So these are good because they spell out the duties of each party and what they must bring.

The last part is a moving target, especially these days, but unless you live in a really small area you can usually find similar houses that have sold, compare how well they are fixed up and where they are, and get a pretty good idea.

The bank must pay market rates for appraisals, and the assignments are bid out to a number of parties, so you really are likely paying the 'market rate'.