Even if he gave you this property for free - what do you stand to gain if you're re-selling it for half the amount owed on the LC?

The house was quickly inspected by HUD, and it was warm at the time of move in so I couldn't tell how well the house would stand up in the cold.

With the data from all these systems, I could easily guage how my leases stand up against everyone elses.

I did inform both tenants that I was also selling the property so there was no deception on my part.I called my realtor and told him I was heading in the rent direction with this property, and if either of the 2 party's interested in purchasing the house didn't make a solid offer I was going to rent it by the end of this week.Yesterday I got an offer for the 86k guy for 102k less 3k in cc and no other concessions.I signed the offer and will profit $17k on this flip.There where 2 factors that made me decide to sell rather than rent,1.

That's worth understanding.If I were you, at your level of experience, I would buy a condo or two in a strong rental market, rather than a free standing house or duplex-to-quad.

Raj If it is is good enough deal someone will buy it.The hard part is finding (or negotiating) that deal.

Buyer and seller escrow costs are never equal, so 50/50 would inevitably be unfair to one party or the other.

Here's an article I wrote on the process the help you get an competitive edge:http://www.biggerpockets.com/blogs/4430/blog_posts/32194-attention-wholesalers-2-ways-to-stand-out-from-your-competition

She will in no way be responsible for it.So the moral is dont try to hide things to 'get more than your share' or the like, and this probably only makes sense when both parties are getting along.Hope that helps someone out there.Dan Dietz

Curb appeal aside, there is also a party wall.