But his butt in jail.The lean holder has first rights to the properties.

The broker is going to require BOTH the owner and the option holder to sign the agreements.

This is really for all you buy and holders...

Typically, a preferred investor (after all debt has been repaid) receives the agreed upon “preferred return” on their capital invested and then the remaining distributions go to the common equity holders (ie owner and any non-preferred investors).

What Ive learned is that this type of buying and investing is for the well off and the W-2 job holder, 33 years of being self employed is not looked upon as strong work history I guess.

This is common with private note holders, there is "lender remorse" about three months after closing, they realize, or think, they could have had cash to play with and they forget about the tax benefits!

Seller is mortgage holder who took back the property from rehabbers after they a rehab flip failed (apparently due to price decline) and then they failed to manage the tenants.

That is why equity holders are generally wiped out in corporate bankruptcies.

If they accepted a DIL they would own it subject to the 2nd whereas if they foreclose the second will be wiped off title.The reference to "pool insurance" may in fact be a mortgage insurance policy insuring the second mortgage holder.

AND the second part of this is in a double closing from what I understand I'd have to have the money to purchase the home first then turn right around and get the the buyer of the wholesale to basically buy it from me - is this correct does this make me the "holder" of the title for even just a few minutes.