They work with local flippers and rehabbers in target markets around the country, and offer investors the opportunity to finance well-collateralized rehab projects at a scale acceptable to most investors that are interested in crowdfunding.This was not what I expected to develop, but it seems to make a lot of sense for all the parties involved.

The bank accepted an offer on an REO condo in Chicago, but the inspector found a small patch of mold (probably the size of a fist) on the bathroom ceiling.

My vote is for my hero, @Ben Leybovich even though I'm upset about having to wait for CFFU to start accepting new students again!

The rate will be a bit higher, but you can keep buying.I would agree with this statement however finding a residential portfolio lender especially at a fixed rate and an acceptable amortization table if buying for cash flow may prove challenging. 

E  as it pays better than what it actually costs me for gas & oil.This was more acceptable than the high mileage I logged one year that generated a letter from the IRS & a denial until I resubmitted with logs against each property etc etc.

Actually, I am a commercial and a residential real estate broker and so I accept commissions for a living.  

If the sellers are aware you are going to make improvements and hold the property for a long time, they will likely accept a lower bid.

If your not the first offer accepted it's a waste of your time.

Good luck :) Bill, wouldn't this situation be under the gift tax exclusion?

I understand that we can give a maximum of $28k to each donee for the annual exclusion amount.