But that is just my opinion, while I was not the original poster I was very interested in the responses, so I was taken aback by a respected poster such as yourself offering up such an unnecessary comment.That said, are there any other contributors to BP that have any new reading recommendations on note buying?

Hard money definitly imposes more risk and eat up a siginficant portion of the margin, but are necessary if you don't have enough cash.

There was an instance before of one investor I knew who bought a house at auction.When the city annexed the area years ago houses had the option of connected to the street sewer and the city did it but it costs many thousands of dollars.This particular property owner connected to the street themselves without telling the city.So the new owner buys it and city wants to impose unknown usage charges and fines for years of illegal hook up.The property was having bathtub and drain issues and at first the new buyer couldn't figure out what was going on.The previous owner didn't also decommission the old sewage tank properly.The city worked with them to refix the line but they still had to pay reduced fines etc.

As a borrower, it's important to know this so ask as this information can go a longs ways in preventing headaches down the road.For instance, just because a bank my close SBA loans doesn't mean they'll fund every single deal that is an SBA candidate, has PLP status with the SBA, or doesn't impose their own overlays that superscede what what the SBA will allow.

The photogrphic boundry can tell..they photo is imposed..

A change of title from one part to another independent of the tax aspects given the related parties.The county or other entities might impose a transfer tax even if the IRS thinks nothing happened from an income tax point of view.

If your buyer has an inspection done then the buyer would pay for it.If you are wanting to re-negotiate with the seller for a lower purchase price, you can just make the changes on the contract and initial them.Normally in a wholesale deal you are buying the property "as-is", so repairs being done before closing is not really viable and a repair credit is unnecessary.

They might have made unnecessary improvements which a buyer will not fully value.

Many business do impose the use of a HUD-1 even when it is not required as it is considered best practice most of the time.

I could really use some more opinions..Please do go ahead and delete it if you think its unnecessary Ciao