Bottom line, legislation has been passed that makes it way too risky and onerous to do one to an owner-occupant.Or, if you are willing to invest 1.5 hours of your time you can get a very thorough briefing on the financing situation in Michigan by a true expert on the subject, Allan Daniels.

Therefore the value would be $20,000/.10 or $200,000.I will follow this thread to see what the answers from experts will be.The best to you.Bill

I would only have an expert who has insurance work on it.

If you can find 3-4 deals that an expert can buy and be willing to pay you for finding them then that will confirm that you are on the right track.

Become the expert.

They might have come across commercial and retail before but are they really an expert at it??

Yes, we have been involved in many expert witness cases where the intent to hold has been tested.

For me, it is BETTER to not see a house and to let actual experts do the judging for you.

I've had this experience, and you can check my profile to see when I got started.I'm no expert, but I will reply from my short experience.1) Read and listen to:http://www.biggerpockets.com/renewsblog/2013/08/15/wholesaling-business-lamar-cannon/http://www.biggerpockets.com/renewsblog/2013/08/29/flipping-wholesaling-plan-sam-craven/2) You're not in the business of finding buyers for the sellers.

Lease Option/Assignments: Option Fee, Option Deposit, Option Consideration,Consideration fee, Assignment Fee, Lease Assignment, Option AssignmentI'd love it, If a few of the experts in the Bigger Pockets forums would provide some insight into these terms, that I have heard tossed around 'like the S.S.