Lets say a seller has 20 acres worth $800,000 and the seller wants the property to be developed for specific purposes, say with a dedicated park area or to serve some specific goal.

What's your purpose behind buying this property?

For this purpose, Lender is hereby given and granted the following rights, powers and authority: So as my non lawyer brain reads this, we can decide to take your rents at any time we feel like it.

Thanks @John Chapman As I suspected, the "shell" entity that is under capitalized and serves little toward any business purpose.

The purpose of the MAO formula, as far as wholesalers are concerned, is to make sure that when we get a house under contract, our purchase price is low enough to make the deal attractive to an end buyer.

just for information purposes

Going to college has to have a PURPOSE that you can validate for taking on debt you cannot get rid of.

Make a checklist of required documentation for each property you plan to promote such as rent rolls, cancelled checks or bank deposits for rent paid, copy of the lease, proof taxes are current, etc.

On the other hand, you have these "gurus" who market different programs, for a fee, that also promote the idea of this being the way that an individual should take to increase their chances of being successful in real estate.

My purpose is to make it so my business accommodates my real estate ventures, much like a professional mechanic may be more proficient at buying and selling cars than your average investor.