These fees will eventually bleed you dry.

I agree that there's a lot of pumping again here, and it's good to see the other side of things. hahaNo worries at all mate and no hard feelings at all.My skin has become very thick.

Educate yourself and save enough to put skin in the deal @Alexandra Preziosi! 

But, if there is a loss in your initial investing, your friend doesn't have any skin in the game since everything will be in your name.

The first two answers are cut and dry but what about it depends? 

It makes the bidder accountable and you won't see as much of a bidding war as in the past because now you have to put some upfront skin in the bid. 

You need to make sure that the construction company has skin in the game, have them put up a share of the equity, have the company make NO overhear profit until you do, or nail them down for a fixed cost.IF you are sure this will make money and you can pay off the credit card interest, do it, but I have been presented deals where they are only offing to do the work at a slight discount and if something goes wrong it is all on me...I did not execute that contract.

@Greg HamerI agree with you 100% on that unless you are all cash, there is no point investing in RE today, as the 4% you will be making, after all the hard work, goes to paying the bank....That said, this indicates a peak to me.....SO be patient, and keep your powder dry....

Just want a simple cut n dry agreement to have the buyer sign.

the carpet should be dry after your finished NOT WET!