Otherwise if I just leave him to get with a realtor I'll be left at their mercy and would rather take some control in the matter and further increase my return.If as soon as I inform him I've got him a house about to rehab for him to buy he can either look for a realtor to sell and risk losing house I'm holding for him if realtor doesn't sell in time and I sell elsewhere or...for a non refundable option fee on his house so he knows I'm serious, we agree I keep downgrade house for him til I find a buyer for my option("flex/non-exclusive option"?)

The following is from the SEC's website re: 506(b):“General solicitation” includes advertisements published in newspapers and magazines, public websites, communications broadcasted over television and radio, and seminars where attendees have been invited by general solicitation or general advertising.

In order to qualify for the Section 121 exclusion of capital gains you need to have used the house as your primary residence for 2 of the past 5 years. 

The owner listed the property via newspaper and after reaching out to his Ad and taking an inspector through the building, we agreed on a price.I then called the title company that did a previous deal for me (with a realtor) and told them I was buying a house direct from a seller without realtors.They sent me a boiler plate sales agreement which I filled out and sent to the seller.

I'm here because I recently attended a Seminar that was an "Exclusive Event," hosted for Doug Hopkins - it was known as the "Real Estate Formula."

@Dusty Hulet, he must be dealing with the wrong banks.I own vacation rental property that's exclusively rented on airbnb / vrbo and the banks only care about the last 24 months of rent that I can prove on my federal tax returns.  

@Jason Keledjian, That property is fully investment and no longer qualifies for any primary residence exclusion. 

I before getting on BP, I just used the MLS (with an agent), the newspaper, and Craigslist (the normal way, not the way BP suggests lol). 

@Joe Ferguson,The flaw in your suggestion is that the §121 capital gain exclusion only applies to the unit in the quad that was used for a primary residence. 

Read anything you have signed with the current agent to make sure they don’t have any exclusivity to represent you, and then run.the agent absolutely can alter the contract with provisions for repairs etc, and the exhibits absolutely can be referred to in the contract.Anyhow as a prior poster mentioned, is this agent from the same office as the seller?