That's very kind.- Okay, let's assume they do that, not sure why, but let's prentend they do that and gift $17,000 in equity to the buyer, so he can come back and buy more. - The lender is wanting to see either a list of improvements including receipts and lien waivers for the new appraisal of $67,000 to justify the higher price and/or they will require 6 month of seasoning.- If someone knows how to buy, appraise and refi in 30 days, please let me know how.

I would start negotiations with those that seem the most likely to leave at a lower rate in case the tenants begin to talk.Some questions that would help everyone out would be.Current RentTarget Rent# of unitsPurchase PriceCap Rate being purchased atCap Rate you could sell atOf course you may chose to keep that all confidential which is definitely reasonable, but if it is possible to share that info, it might be able to help people kind of get a better picture of things in terms of a dollar amount.Good luck!

Have preliminary conversations with them to see what their requirements are as well as the terms of their product (i.e. draw period, floating interest rate as it relates to prime, repayment schedule, annual fee, and closing costs) before you start forking over all kinds of financial documents.3) Most banks will go with 80-90% LTV, which means they will take that percentage of the appraised value and subtract it from your outstanding mortgage to determine the credit line.

David,Thank you kindly.

I found it kind of  odd.  

I understand airlines now require a letter from a therapist, proof of some kind of training, and they have to be able to call the therapist office and confirm that the letter is real.

What's the property worth and what kind of repairs are needed? 

I know that it will need a ton of work and that's fine, but what kind of agent do I need to make an offer?

It's just ugly all over.It's kind of a joke how many people actually believe that wholesaling is free money.

Kind of up to you to feel out who you're working with.