Don't get me started on "Turnkey" packages.

I'm taking action and I was hoping to get some feedback.I got a package of 3 properties from a wholesaler that I took to two different groups.

(REO)Pros: may get offer accepted at $180K, appraised for $350k as a single family home.Cons: needs to be converted into a single family home (including code violations needing to be corrected), bank wants to sell property as-is tenant occupiedMy plan is to package the info including construction costs with plans on converting property into a single family dwelling and wholesaling the property for $220K.

SO as part of due diligence, I asked them for documentation and they sent me a 'Safety and security" package,which included their balance sheet.one thing i don't understandit lists some $57M as customers accounts, but there is no offsetting liability for custumer obligations.do i just not understand trust company accounting?

www.realinvestorwebsite.com offers a great package that I use.

But as long as the package has a test card (to confirm that that lack of color change is truly showing "no LBP found"), at least you have a valid test.I thought that the EPA does not recognize those test kits for use on certain surfaces, and that chips would have to sent to a testing lab for those surfaces ...Plus you now will have to disclose all test results - especially any surfaces that tested positive for LBP - to future tenants / buyers ...

Drilling down to who holds the paper is pretty pointless becuse they are packaged in a large pool, securitized, then resold with no way to unwind the underlying instrument.

I'm very excited about this, as our partner on this endeavor is doing an incredible job putting a package together.For a sneak preview, check out:http://www.rei-ads.com/standby_pages/1771

But, I still haven't received an email confirmation or the contract package, and until I receive that, I'm not getting my hopes up...For anyone who's been through this process -- how long does it generally take to get the email acceptance from HUD after it appears on their website?

For exampleletssay your waiting on a deal to happen and the seller is going thru BOA HAFA and the agent/negotiator has submitted full package, has kept up equator tasks, been updating everyone only tone 4 months in and get HAFA approval yet didn't check if the loan had PMI and the PMI company does not participate in HAFA.