Some rehabbers might need a 10K minimum profit to do the deal, and others may want a 20% profit spread.As a wholesaler, you need to know your customer.

The customer ran from the bathroom right when we noosed it up.

I need a no doc loan (got a 750 fico), no out of pocket costs, fast funding (within 5 days, after receiving all required info), and preferably one who can wrap up the payments into the loan amount.

I would never get into something until all of my ducks are in a row...meaning that I have already established a solid network of investors waiting for my deals (which I have), and having a custom Purchase Agreement with enough contingencies to cover me whether I cannot find an invester to assign my contract to (this is the worse case scenerio)...if it were completely impossible for me to assign my contract, my agreement allows for me to walk away from the deal without any risk to me (although this is not fair to the seller).

We, the wife and I, prefer this to a Hotel stay.

In any event, even if he does call his preferred investors, then that would call for a multiple offer situation and that way everyone has a fair crack at it.

Having a license opens a few doors, closes a few others and is neutral otherwise.If you want to be a customer service agent for your own business where your clients buy and sell a home then a license could be a great idea.

Purchase loans are prefered...cash out is limited for refis.

I would say "customer's", but you clearly are not treating them as a customer.

I don't like these balloon loans, having said that I don't have other choices as my loan amount is less than 50,000 and I don't have 2 year landlord history for conventional financing like Freddie Mac.Here is the interesting point, I was told Fannie Mae does not require 2 year landlord history, but my loan officer said (today) that they don't require, but prefer to see it on your tax return.I am not sure if you could refinance it prior to one year.Did I miss anything?