Who is financially liable in a wholesale transaction?

John does not plan to take on any debt for the new transactions.Questions: Is the transaction in 2. legal ?

Hey BP,I'm looking to do my first subject-to transaction since the house I have under contract needs very little work.

Also, I believe $900 is a “safe” rental price for the area D/FW unless in a bad neighborhood, a good area could command $100+ more each door.  

would you take out the max amount when refinancing, or play it more safe?? 

I have never been involved in a hard money transaction before so I’m looking for any advise and/or suggestions on the subject.

I bought it almost $100k under comps and I did my research so I think it's safe to say that my investment will work out regardless of interiors... 

It is a slower game but is fairly safe and provides you a place to live, build equity and learn to be a landlord since the tenant is next door.NOTE: You can refinance the duplex and get out of FHA financing later

If there was a Foreclosure Auction checklist that one must do for a successful clean transaction, how would it look like?

So say its really 50k purchase plus 25k rehab based budget plus 10% reserve ( $2500) all equals a transaction of 50k + 25k+ 2500k= 77,500 so 20% down of that is 15,500 down.