A couple of weak years four and five years ago limited our ability to refi.Another strike against your deal is you want cash.

So with all this in mind ... the question, do I return his $600 to him because it was me ending the deal, or does the fact that he had no ability to pay me come into it?

Define your overall REI objective, understand your ability to financially cover costs if things don't go as you expect, and your exit strategy will probably define itself.

The ability to save a commission when purchasing, and the ability to save when reselling.

Provide a bill for work accomplished at different stages for labor and profits agreed, that billing can then become a debt secured under a future advance note arrangement.

Your credit is a pretty important part of your ability to invest in real estate in the long term.Another strategy would be to spend the next year on a "Dave Ramsey" kick.

He approached me in a very secretively manner, saying he didn't want to let the cat out of the bag, strike one, trust has to be there with your lender or investor.He was too excited, his new product for resturants was going to revelotionize the food industry......strike two, no one is going to change the world overnight.His marketing approach was too well based in his excitement for his product assuming too much growth too fast....strike three!

forget your "reputation as a buyer" and protect your ability to put food on the table next month.

I listened to Obama on Dave Letterman.I try to stay open minded when listening to the candidates.Obama pointed to "the success of America is the growth of the middle class".

In either case, their ability to deliver what they say, matters.Of the companies you are considering, I think it is very important that they deliver as promised, don't change the terms mid stream, and are clear in their requirements.