For purposes of this provision, “diligent effort” includes, but is not limited to, timely furnishing all documents and information and paying of all fees and charges requested by Buyer’s mortgage broker and lender in connection with Buyer’s mortgage loan application.

Also they want to get a condo or a townhouse because its more comfortable and I am here dying in my mind thinking on HOA fees, not having an extra room to rent for house hacking, etc.My brother told me that one of the lenders told him that the loan options would be better if we both are in it (me as a cosigner) thing I refuse to do.

There will be a fee depending on what you are looking for, exactly, but if it is a viable deal, you shouldn't let that scare you.

As for the PM fee, most PMs charge between 8-10% of gross rents, so 12% is a little crazy.

@Albert JonesCondo HOA is an unknown - fee can jump at any time and eat up profits as can assessments. 

Here is what the numbers came out to:$50k unsecured loan at 8% interest from Huntington BankPurchased property for $40k- used the remaining $10k for repairs (repairs should take max of 2 months)Rent house out after repairs are done for $900-$1,000 per month  ARV of property is $60k53rd Bank offers 90% LTV refi after 6 months seasoning and $195 processing fee at closing- Refi property for $54k on a 30yr mortgage at 5%Mortgage payment including taxes & insurance= $436/monthCashflow= $900 - $436 = $464 gross cash flowRemove 20% for cap ex/vacancy/other expenses (round up)= $100Net Cash flow= $364 monthWith the 90%LTV refi I am able to get my initial $50k back from the unsecured loan plus $4k.

Also, does it even make sense to just represent myself when considering the yearly costs and fees related to having a real estate license?

I understand that time is a limited commodity and can offer a consult fee or I would be pleased to take you to lunch.Thanks again, Tom

Besides double closing, has anyone had any  experience on doing this with quitclaim deed right after closing and exchanging your commission fee with buyer.

I'm turning around to the community for help, does anyone have any recommended companies they would suggest that offer the realtor.ca listing service for a flat fee, no commission?