If so and they are taking the property as collateral this sounds like a standard mortgage situation. 

To me, it sounds like you're saying:If I expect to put 100 offers out and get 1 of them, exclusivity should be in playIf I expect to put 5 offers out and get 1 of them, exclusivity should not be in playDoes that sum things up accurately?

Which means you can assume that in the event of another downturn (not to sound negative, it probably wouldn't be as bad as the last).

Sounds like you made an offer at $350k and now have done your numbers and only like the deal at $325k?  

@Mark K. absolutely that sounds awesome, any one on one information would be great, I’ll PM you.

@William Washington with the limited information in your post, it sounds like you may be offering a security and should be setting up a Reg D offering (syndication).

, and I can honestly say that buying the first year of residency sounds like a super smart move- but DON’T DO IT.

I do agree it sounds like a lot, but I think I would get a sense of what you generally find.

Most recently answered the question of needing to form an LLC, which sounds like is a good idea after I reach a point of having several properties.

We talked to our trustee about foreclosures in Nevada and it sounds like there's still a backlog but I'm sure it should get better in the next few months.