I believe the demands for repurchase to Morris have become excessive and he may not be able much longer to do so. 

When you factor in the other closing costs title, escrows, days of interest and hard costs, you are close to $8K (total).You should not be paying $8K in points though that would be excessive even with Non/QM.

These are excessive risks that newer investors should not face without inspections and proper estimates to ensure they are not buying a a liability.

Verbiage said that anything is excess of these amounts will be paid by the seller.Thoughts or comments on the above?

Everything is excessively over priced. 

@Chris Clothier ,I have no clue which market Nathan is talking about, but the fees sound excessive compared to MY market.

The property is under contract for 100k and I'm getting quotes for 1k to inspect the property which seems excessive but that's what I'm being told for a 2 unit property. 

You could have a cash flow in excess of a required interest on the money and management fees usual for the area, that becomes a profit and then you'd split that 50/50. :)

I hope to see Montana as a major producer of food and hemp products in the future.Rural areas have a huge advantage when it comes to relaxed regulations, like no zoning for example.

In other words, if I estimate that I can buy a property for $70k that needs $30k in renovations, should renovation budget go over by more than $6k, my partner and I split those incremental costs 50/50.CapEx/Emergency fund:  We agree to set aside 100% of excess rent revenues towards 1 year of expenses OR 100% of potential CapEx expenses for 30 years (whichever is higher).