Very dangerous if that is the case.

Rain sleet snow 40 mph winds we're out there so it's pretty dangerous as well to say the least.

It gives that lender some say in your buissness and if it's friend or family it can stress relationships and make for trouble at thanksgiving dinner. 3) this one is the most dangerous.

An interesting distinction, as in my mind, it was the opposite.Since the buyer did in fact pay over asking,  and was very easy to work with through negotiations, I, after careful deliberation, bought the buyer a new roof. 

What you have to remember is that if the contract itself has incorrect verbage that puts the seller in danger that would be the listing agents fault and one deal isn't worth losing their license.

"About" 70K ("about" is a dangerous word) puts it at $91K.

1) Don't buy 2nd's unless you know what you're doing (which you probably don't).2) Don't forget to check for all the other liens that might stay with the property, but do make distinctions between liens that stay with the property and liens that don't.3) Don't by sight unseen unless you're trying to place a ridiculous amount of capital and you can make it up on volume.4) Don't buy without determining occupancy status and the "temperature" of the occupants.5) If the guys that show up every day are bidding on something, you probably can't make it work on your margins.6) Don't get emotional.7) Seriously, don't get emotional.

It is very dangerous to pay guys by the day and not by the job.

That is an interesting design and I see how it could make sense with basements that are in danger of flooding.

If it goes to auction, there may be a "trustees deed" or "sheriff's deed" or some such created.This is a bit of a dangerous thing to be doing on your own.