What remains is your cash-flow before taxes (CFBT).

More complicated, giving a note as full consideration when the option is made satisfies the true option facet, the note is consideration, but the note is payable even if the option is not taken and if payments are credited to the purchase price, that triggers the financing a purchase agreement.

That assumes about 7 or 8k to a realtor.The contract would structure as follows:First 80k to the house ownerNext 20k to you (covers the renovations)The remaining, 37k in this example, goes to each of you evenly after closing costs.

I will remain flexible and speak with a qualified attorney and accountant before I sign anything.

Agree with David in nailing things down.I respect Chris' opinions, but on this, I wouldn't say a mortgage is "better" in a partnership.If you're a lender, you'll be foreclosing on that interest, you'll be selling to satisfy the mortgage interest only.

The 14 executive suites will remain, but will be updated with modern furniture for the tenants.

What if I offered him $325K cash and he carries the $68K remaining on his mortgage and I make payments to him?

I have copies of inspections done on the remaining structures after the explosion which show them to be sound, except one which needs $15k to repair the pier and beam foundation.

All kinds of information can be obtained concerning the sale of a comp that is not available to other Realtors or investors.Off market cash sales, a seller is most likely going to confirm a sale price to an appraiser that a Realtor or investor who they probably see as having no need to know or where they have little assurance the sale will remain confidential.Property trades are another aspect of public information not being available, banks or lenders will have the data.

Even my software company has an operating line of credit that does not require my personal guarantee - and we're a rounding error in size when compared to Oracle.While the above are not Joe Gore's Texas Real Estate holding company, which would probably require a personal guarantee on borrowing, the point remains that your unconditional decree is not universally true.