@Zachary Phelan Not to beat this drum again, but now that you know the details of this one mortgage, you still need to ensure this is the only debt on the property.

BP is here to try and help you become one of those sophisticated players in the marketplace.  

The lender requires whatever amount of downpayment and writes a note for the remainder in exchange for the mortgage on the property.In the case of a wholesaler, your payment is usually layered as a markup on the price of the property, so I guess you would need to ensure the downpayment made by the buyer was sufficient to cover both the downpayment requirements of the vendor and your markup.When you start doing this, it kinda makes your payment look more like a fee for service or commission.  

Is there a guide or questions on vetting a closing attorney to ensure you get a good one?

You need to walk in at the first meeting and if you are not an obvious player you will need POF that is real not from some service or wanna be HML ..

@Michael Mazzella happy to hear about your success, but for us newer players, this island is priced out of our range.

The penalties are very severe, her IRA is at risk and I suggest you speak with qualified expert to ensure that you doing things correctly. 

Although oil companies are still obviously a huge player in Oklahoma, it doesn't seem like the economy relies on them as heavily as they did in the 1980's...which is why the Oklahoma economy was devastated when the price of oil went below $10/gallon. ($22 in today's money).Since then, the state has done a great job of attracting different business segments and industries in order to avoid repeating history.

We still ensure our end buyers have the ability to pay per the regs, of course.

Is this something you can help me with ...I see your a big time player in commercial and Id like to get to where you are one day.