I could go into more detail with numbers, cashflow projections, etc... if you wish.

The insurance company will comply.If insurance company is unknown, the lender should send a specific letter dated and to the borrower stating the situation in detail.

(probate, REO, craigslist, FSBO, bandit signs, etc.) 2) Put wholesale property under contract.3) Consult your buyers list of cash buyers for interest in heavily discounted wholesale property.4) Assign your contract to cash buyer / rehab investor from your buyers list.5) Repeat.There is plenty of detail in-between but you will learn as you go.I dont know about any other wholesalers but it took a while for me to get this right.

I actually owned 3 buildings and sold to the current owner so I know all the details, expenses first hand.

The millisecond a deal closes you can close the next escrow, escrow one is over and title has passed on the first closing.I don't know the details of your deal but if you were the end buyers it would have been easy to write this up as A to C deal with B being taken care of in escrow.

Again, I know someone who used to teach RDPD training and I know plenty of details about the quality of training and the tactics used to extract $$$ from inexperience and naive investors -- if maintaining an overly harsh tone will save even one wannabe investor from throwing away hundreds/thousands/tens-of-thousands of dollars, I'm happy to maintain that tone.

If they were unwilling, I would have inspected the property in detail, deducted any charges for repairs, done the repairs and returned the partial deposit.

He filled me in on some of the details of the house and he is moving out peaceably.

See this link to the IRS for further details. http://www.irs.gov/publications/p225/ch03.html#en_US_2011_publink1000217748

Can someone please give a bit more detail about the LOMA?