If anyone has any great advise on how to boost my score, lender input, REI experience in relation to my issue,  etc. , I'm all ears...Have a great day ... 

The reason that you don't see much discussion is that most investors do everything or nothing, because if you start putting in paint and flooring it is hard not to justify a couple thousand extra for granite etc. which will boost the rent the most. 

This is not a related party transaction he is simply selling a property to you and starting a 1031 exchange. 

Fear Is just an emotion like being sad or happy, fear is not real it’s a product of your own thoughts, fear is a choice not a danger.

1724 sf4 bed, 2 bath1 StoryNo GarageListed Price $66kOffer/Purchase Price $70kOriginal Estimated Renovation Cost $31kFinal Renovation Cost $36kARV $140,000Sold $143,000Closing Costs at Purchase $4,600 (including $1500 that I pay my agent to handle Auction transactions)Closing Costs at Sale $10,200 (including 6% commission)Holding Costs (Loan Payment) $280 a month for 4 monthsHolding Costs (Utilities) $200 a month for 4 monthsHolding Costs (Yard Maintenance) $0Real Estate Commission Paid at Sale $6,600Note: I pay my agent an extra $500 on top of his commission to make it more worth his time.

(I get asked that a lot, and when down in so cal there was no rhyme or reason to pricing, and land was so hard to find) you can use formulas when the product is under certain values but when the homes go way up in value that all changes.especially in CA.. were you may pay 2 mil for a bare lot in Palo alto spend 600k building a nice 2500 sq ft home and selling it for 4 million ... % does not work.in our production stuff like we do in Oregon  were the end product is now in the 450 to 500k range  1/4 to 1/5 is what you need for land cost to keep your margin at 15% of gross or there abouts.. but many builders are only making 5 to 10% of gross if that , depending on where they get their construction money.our Gresham project Lennar offered me 130k per finished lot  and we are selling houses right at 450k.. so they were paying top dollar but they build 400 plus houses a year in this market so their margins are much tighter and they are not carrying ANY dirt or land.. they only buy when they can go vertical GENERALLY speaking as I say this they have just gone into contract of a few parcels next to one I am in process of developing 160 lots on.. but basically that's how it works.

@Mike Hartzog  correct... in our world 2nds simply did not happen all first trust deed or mortgage lending and all collateral assignments of said.now my facility at Umpqua 4 million.. they would not actually record the assignment they just held it and we gave them an alonge'  they would only record if they were going after the asset.Riverview and Columiba community were I had the same facilities only larger they recorded everything so the transaction was a little more cumbersomeand of course we had to close the loan with our own cash then back fill.. much like a conventional lender who does table fundings then sells in the secondary market.. but once the machine was up and running it went well but it took staff to run.. that's for sure.

Offer is $605kOffer 2: Some unknown agent using Bank of America, offer $610k.Listing agent explain hey, they offer may be slightly lower, but A, I know Bank of America is going to cause a bunch of headaches in this transaction, and if the buyers agent who has no track record is letting a client use them, they probably dont have a clue themselves. 

The so called Gurus in this industry are typically Information Sellers.....they have info (either general or specific) that they may, or may not have written themselves and they sell that Information in the form of a product (books, downloads, seminars, etc).

The way that it works is they are daily interest loans, generally have no payment requirements during the life of the loan, however the equity of the property gets ate up every day. the bank is probably not going to ask them to leave the property when equity position is upside down. short sale is usually an option via arms length transaction, or payments can generally be made for loan paydown and eventual refi once get loan to a more favorable LTV. feel free to PM if you have questions!