Should I just straight up consider not going with them based upon the fact that they are half the U.S. away as that presents some certain challenges in areas of screening them.They want to send the first month's rent and deposit by mail and have a place lined up before getting to Iowa.

A straight (no cash out) refi to a lower rate mortgage might be a much better bet- that would reduce your payment and increase cashflow without increasing your debt..Is the lender counting your rental income?

What you describe shows that there is enough equity for the banks to recoupe their entire funds and some change in a straight forward auction.

I tell them straight up what's expected from them.

From listening in to the podcasts I am keen to learn more on alternative financing and putting together groups of investors in deals, probably buy and hold, as have only used straight bank finance really here, apart from a couple of friends loans for deposits in the early days.

I see cases where people put money down and can't refi out with the bank or straight sell because they haven't stabilized property for at least 2 to 3 years yet.

Was is pretty straight forward?

I can do a straight refinance for the $75k, not pull out any cash, and it would be a 30 year fixed mortgage.What would you do?

To make sure just ask him a straight forward question, do your buyers pay you your fee or are you expecting part of the wholesale fee?

So, in the the most simple way possible, protect himself and insure performance of the rehabber.TJ, I think if you explain this to your real estate attorney, then present specific escrow instructions to the title/escrow company it will be professional and straight forward.