I have my RE wholesale business step up and now I'm wondering do I have to carry business insurance for this particular part of RE.

That being said, one of the only reason's I'm buying it is because the seller is carrying back a portion, getting me into it for almost nothing, and still having enough cash-flow to pay for me to manage it.  

I have not done anything more than personal loans and seller carries in the past.

Rents are:One 3 beds 770Two 2 beds 640Seven 1 bed 540Total per month 5640Monthly utilities 1900Individually metered right now the owner is paying allInsurance 2646Owner will carry long term with 125k down.Not very familiar with Phoenix market.Doesn't seem like it's going to cash flow very well.

You can make an agreement saying that the Private Lender will put up the Capital, while you render service and carry out the rehab.

Yes, you will have carrying costs, but if you are going to invest in real estate you need to be ready to act when something worth acting upon comes your way.

So basically the seller carries a $240,000 not but my balance is $117,000.

Now you have to scrub.

That standard listing language probably carries the power of the law if someone wanted to make a point. 

@Carrie Giordano You should start by breaking down the costs and figuring out which are negotiable or variable and which aren't.