I had asked about dealer status being forced on individuals, and he said that it is highly unlikely given the volume of around 20 flips a year.

If you have a volume of rentals or an out of state landlord then I believe that they are well worth the cost.

Since it looks like you'll be buying with cash, that gives you a little bit of an advantage over the typical buyer on the MLS but also keep in mind that turn key companies have much lower construction costs because of the volumes they do with suppliers and their crews.

If you have questions, I strongly recommend you hire experienced, competent legal counsel to answer them for you.Re-read Bill's post(s) regarding who you listen to (I co-owned and ran one of the largest REI clubs in Texas for 7 years, my family has been in SFR RE in Texas for 5 generations, I bought my first investment property in 1996 and have done over 300 deals since) and what the Law states in Texas regarding contracts and Real Estate ( I suggest you start here: http://www.statutes.legis.state.tx.us ).The largest wholesaler in Texas by volume appears to be United Investex USA X, LLC (where X is a #) dba New Western Acquisitions.

Contractor's estimate is $800 for labor to repair and re-paint both closets and the bedroom.The 3rd item, drywall/painting, is the one the tenant has the heartburn about.  

I need a high margin low volume business.

I agree on a fair price with the seller that most rehabbers would need to make the deal work.The buyers I use do volume so they work on much tighter margins, if I sent that deal out to the average rehabber they would need it for the price I paid for it.I am buying that deal with a partner, I find they fund.

I've been reading a lot on housing wire, nasdaq, market watch, and mortgage orb, and it seems a big discussion occurring is whether or not nonbank servicers should have more regulations.Here is what I learnednonbank special servicers wield $1.4 trillion in mortgage servicing rights out of a nearly $10 trillion marketnonbanks use short-term financing to buy servicing rights for troubled mortgage loans that will likely not pay off until difficulties resolve in the long-termInfrastructures might not be able to handle the responsibility of servicing large volumes of mortgage loans17% of the 30 largest mortgage servicers were not banksnonbank special servicers more susceptible to economic downturns that could increase nonperforming loans that require servicer loss mitigationnonbank servicers don't require same capital levels as a large bank lenderreason for standards for banks was deposit insurance and the sense that IDIs could impose risks on taxpayers (not applicable to non-banks)A recent report from Fitch Ratings suggests rise of nonbank servicers threatens private-label residential mortgage-backed securitizations (nonbanks now service 74% of all private-label securities by loan count)higher risk to GSEs buying from nonbanks due to a counterparty that may default on financial obligations (representation and warranty obligations)Elizabeth Warren, instrumental in formation of the CFPB is pushing for study on nonbank servicers.I know there is a variety of different professionals on BP, and I'm trying to understand and, more importantly, weigh all the pros and cons and consequences that would occur if the FHFA were to impose stricter regulations on nonbank servicers.

I agree also with the following distinctions~*We always invest for cashflow, never speculation although one of our exit strategies might be to sell if we've miscalculated elsewhere so there must be enough meat on the bones to sell even in a down market if necessary*During times of general appreciation, it can be harder to find properties that CF well-- so buying volume can be low and s-l-o-w.

I was looking for and ethical and legal way around this...I am blessed to have been in court recently as a witness for several of my clients where another investor took advantage of them as well as of several hundred other people in a very short time...Long story short, The Magistrate of our local BK Court District upon succession of the trial ask if I was in a similar business and offered to look over my marketing pieces, disclosures , agreements as well as answer any questions so an not to end up like the knucklehead she just sent packing...So I figured why not ask...Her reply was very simple.....NO I CANNOT RECIEVE A DIME but my clients I do refer (without selling them of course because I am not a lawyer cannot advise them in this way) CAN receive a discount that makes sense for the lawyer allowing me room to fee my clients for a service that DOES NOT conflict with the BK (the tricky part)…So I interviewed about thirty or so lawyers and found 2 whom were willing to offer their services at deep discount…which they make up in volume as I am working about 50-60 of these montly....So how do I make out?