. :)We all use the term like making deal, the point is when looking at law and regulations, know that the loan s made by he maker who is the borrower.

``````````````````````````````````````````````````````````````````````````````````````Resouceshttp://files.consumerfinance.gov/f/201401_cfpb_mor...http://www.consumerfinance.gov/regulations/ability...An idea is you use a RMLO (Reg Mortg Loan Originator)The RMLO will steer you down the right path.See http://www.reiexpo.com/2012-classes/how-to-offer-s... 

I also stressed to the broker my major concern was regarding the plumbing and I received no disclosure of any deficiency, past or present from the seller.As it turns out, it was discovered last week,mjust before I planned to close, that the seller had indeed made some major repairs to the plumbing, including sewer and fresh water lines connecting the chiller and boiler.

I'm sure there are state specific laws, particularly since CA seems to have regulations on everything. 

Even though these will clearly be accredited investors that dos not mean there are no hoops to jump through or regulations to follow.

This is a continued post from another discussion I had on BP which I received much assistance with.I discovered a property I bought in Las Vegas had $20,000 of plumbing problems which were not disclosed in the SPD.

Some of the maintenance is more of a fixed cost while other maintenance is difficult to estimate (roof repair, plumbing issues, appliance replacement, etc.).  

I've been administering 1031 Exchanges for 30 years, and I can tell you that an individual can't just read the code, regulations and 100's of rulings and become an expert overnight. 

Do not be misguiding by other investors that say "why pay a commission"Your paying for an expert no matter how much you think you know we're apart of a regulated industry and a lot of information is available to us not you.

Some states regulate this.