Given my estimate of rehab expenses (again, based solely on photos), ARV and associated costs, I'd pay no more than $70k retail for the deal (so not including a wholesale margin)Depending on your deal with your broker, you can most likely do better than the 6% resale commissions, right?  

And use this as proof/source of income for your mortgage?

I am looking at applying for an EIN and am not sure what type of business would be best to apply for like LLC, sole proprietorship, or others.

There are also of course the traditional "fleshworld" sources of finding competent lenders:* Friend/family referrals that closed with a particular lender, esp those friends and family that we think have difficult or imperfect credit/income/asset situations. * Realtor referrals.

Lastly seal the 2x4's with Kilz or equivalent.If you truly eliminate any moisture sources you should be ok.  

I strongly feel building at cost and selling maximizes profit on a any angle .my financing source is through hard money and I'm pretty happy with my terms but know I fell I need to network and possibly partner up with investors in the same Intrest field .I would like to network and build relationships to better assist me in this venture .

I've learned more from the podcasts that any other source.

Sorry for confusion, I just signed a PA, and going the path on closing on in 30 days. but there is 2 options to do this either typical closing or buy the LLC. my PA allows to go down both paths at my sole discretion. 

Here are the key questions to think through before you get it going:1) what do you want to buy2) how much can we afford3) how will you pay for it 3) what are you going to do with it afterHere is how we tackled this challenge:1) Find a reputable and responsive agent to work with: we worked with @Sharon Tzib2) Get pre-qualified with a good and local lender that work with investors: we usedd Rochelle Frazeur from New American. 3) Use some good MLS criteria to set up lists with your agent3) Find out how to identify a good deal: We got our hands on some good cash flow analysis calculators (thanks to @Sharon Tzib) and we used the calculators on BP as well4) Make neighborhood visits to those areas of your interest5) Find other venues to meet up with other investors or go to workshops and meet up's: We've attended BP meet up in Houston, events with Jet Lending, meeting with Wholesalers, and we've met one-on-one with other investors6) Look for non-MLS sources to find properties for sale: wholesalers, and local listing through Rich club or word of the mouth7) Talk to the property manager if you are planning on using on.

In any event, FinCEN has announced that it intends to dialogue with the Conference of State Bank Supervisors (“CSBS”) to coordinate the identification and examination of mortgage originators subject to FinCEN’s rule.Exclusion of Exceptions The AML Program applies to businesses, including sole proprietorships, but does not contemplate coverage of an individual employed by a financial institution.