Thanks for your response, it solidifies my position on this property.

At that point, it becomes pretty easy to add up all of your positive cashflow, subtract off all of the negative (including commissions and sales costs) and get a net number that you can use to calculate ROI/CoC.

better question- anyone have long term success and positive returns playing the south side shuffle??

It doesn't look like they have any positions for Charleston, South Carolina.

Having said that, long-duration (6-12 month) put options, that are out of the money (the market would have to decline at least 5% for them to start generating positive $ returns) are not that expensive.

I am almost positive its his own money.

IMO, if a financial deal will make you declare bankruptcy, then you aren't in a financial position to be buying real estate.

Off hand, I'd think it's probably putting you or the finders in an illegal position acting without a license, but can't say as I don't know what the relationship is.

Foreclosure of second position lien?

I have managed to come out unscathed with two sets of renters and a positive cash flow due to great deals.