Well, we finally disagree Steven Hamilton II, but only slightly.

Finally decided to introduce myself.

Like anything else, there are good and bad sides of all choices.

It wouldn't be my first choice but I wouldn't be scared to live there(before and after dark) by any means.

A lot of times I don't clearly understand that a choice had to be made, for example, about marketing strategy.

These are the numbers the "finder" is giving me:Investor price: $105KRepairs: $30,000ARV: $165K4/2 rents: $900/motwo 2/1's rents: $600/mo eachWhat seems fishy to me, the finder is asking for 1% of the final sales price I make with the seller.

He as a PM had nothing to do with placing that tenant so he would not be saddled by a poor choice by a desperate or inexperienced Landlord, if he did help place the tenant(with LL approval and criteria of course) then his time spent on an eviction or whatever would be free as he had a hand if the tenant placement and therefor his job was to rectify the situation and get a new tenant in place as quickly as possible.

I simply shrugged those statements off and kept doing some research and listened to the great podcast BP just put up about raising capital:http://www.biggerpockets.com/renewsblog/2013/01/31/raising-money-getting-started/I finally heard back from my RE attorney (who has already done PPM and reg d filings for himself and others and used to be a corp attorney) and got a price of $10k to setup the reg d offering.

In any event, to answer your question, it's not finalized until you have a signed lease and all money due has been paid.

It comes right off of the freddiemac and fanniemae websites I think it page 5 of freddies, fannies , i just use this handout attached belowhttp://www.freddiemac.com/singlefamily/service/docs/Short_Sale_Fact_Sheet_Pub_908.pdfhttp://www.realtor.org/sites/default/files/handouts-and-brochures/2009/fannie-mae-confirms-short-sales-commissions-policy-2009-02.pdfMaybe the term i used, illegal, was not the correct choice.