That is a great set of scenarios and ideally a rehab to buy and hold is the goal.

And ideally, finding out information about the income distribution of the county and other areas.

But I still believe here would be an ideal place to learn more about wholesaling.

If they do that cutting commissions doesn't come into play at all.

But real estate is a relationship business, so unless you want to make unnecessary enemies (and local RE agents are very quick to make enemies), just learn the rules of the game and keep playing it.Btw...

I've been sending to both middle and lower class neighborhoods, playing with different fonts and envelopes, and its been interesting on how the response differs in each neighborhood.Its encouraging to hear that getting mentored from my friend is a good opportunity, I've had close friends telling me not to do it, but its better to listen to people who are experienced with real estate.As far as dialing in the arrangement, we'll be doing it on 3 levels:1.

The very reason you pay the title company is to handle all those details and do it correctly.The title companies I deal with get it right every time.

Thought you were an examiner and understood what the purpose of bank regulatory policy was all about, but either you're playing dumb or you really don't know.Government is necessary in a capitalistic society, it doesn't function efficiently without government.

That's where a title search comes into play.

Depending on your risk tolerance and skill level you may chose to:- Not cash out refinance as much to leave more cash flow or margin of error so your property still cash flows with enough to cover during rainy day (med risk - med leverage) ,- Refinance just enough to payoff the prior investor (least risk/lower leverage)- Or cash out as much as you can till the point your monthly cash flow is lower or near break even (max risk/max leverage), but ideally you bought so low that even if you get out the most allowable by conventional guidelines you'll still be cash flow positive each monthThe good part is the leverage were discussing is a 30 year fixed (if using agency financing) and predictable so you can focus on other variables.Good Luck~