Then perhaps I'll call him in a month and see if he's ready to settle on a lower price.Alternately, I could offer to market this at 470k'ish, looking for a 10k profit, and see if anyone bites andpossibly seek a best offer, In this case I would market for live-in buyer with cash.

In my area of the country, if you are seeking a money judgment for up to $5000, small claims court is the venue.

If this is a large investment, it is probably time to seek legal council.

Determine the initial COCR after rehab and financing and then seek to keep the cash flow the same or better in future.  

I have no experience in commercial terminology and seeking help from my fellow BPs family.

I would seek to have a good one on board, just in case.

We will be in AZ Sept 17-21 & looking for a RE who understands the process of Flipping in AZ, we have completed over 14 flips & looking to complete some in AZ too!! Would like to know which areas are better th...

I'm pretty sure they are a company that seeks out turnkey properties from market providers and then sells them in a seminar type environment.  

And the great thing for what you're looking for is that they're all active members here so you can seek them out as you grow as an investor.If you don't already have this book, grab it for reading during your down time.http://www.amazon.com/Every-Estate-Investor-Financ...And finally, you forgot to tell us the name of your band so we can look out for you on your way to success!

You have to know what the home will be worth after repairs, what the rehab will cost, and what ROI each of your investors is seeking.