We are negotiating with my aunt who is the POA of the trust, but essentially the trust's realtor and tax attorney.

There's a few problems with this - first is that the lender will want to know where the mysterious $10K came from and assuming you tell the truth, they will make your friend sign a letter to the effect of "Tia never has to repay this money it is 100% a gift".If he's comfortable doing that, then he obviously trusts you because as soon as he signs that document you have no legal obligation to ever repay.As for the terms - why would you want to buy a duplex and only essentially "own" one unit?

I've contacted about 8-10 local RE businesses and I've essentially been told "without a real estate license we don't want anything to do with you".

If the property contains a residential structure, or if the property is located within an urban renewal or urban redevelopment district, then redemption costs will include reimbursement for insurance premiums plus 12% per year interest.

Many of the homes are in disrepair, but the essential structures are sound."

I was thinking of asking Mark if LJ could give him the 20 thousand [or whatever it is] as a down payment on a 60 thousand dollar loan if he would be interested in essentially being our lender at whatever interest rate.One, would that be rude of me to ask?

Rick,Check out this great post by Steve Babiak The Essential Guide on How To Build and Promote Your Buyer's ListYou can always post an ad on craigslist 'Looking for cash buyers', also networking with other wholesalers and at your REI club is another great way to find buyersGood luck

Essentially what I am saying is, I have never heard of and can not begin to understand what a "Bankruptcy Release Fee" actually is or means.

My improvements to the property would essentially be the option payment, which of course would add equity to the house for either the myself or for the seller.

A substantial reserve would be essential to make it through a general downturn, as it would also be a time when finding replacement buyers would be very difficult.