I think it's good advice to check for proper SEC registration. 

Let's say this agent is generous and does share tht $24,000 with you 50/50, well that piece ($12,000) goes to your FIRM, not you.

Even after a $40/50K (generous estimate) rehab you can cash out re-fi, pay yourself back and your investors back and still hit the 1% rule.

Also, thank you for that comprehensive check list.

Once I have located such a property, I buy their property for below market, (instant equity) no bank qualifying, no credit checks, by offering to take over their loan and make their payments for them.

Do a complete application and background check on new guy. 

You are showing up with a check to refinance the loan. 

I’ve always used my smart move for background checks.  

Not everyone remembers to check this and understand there may be thousands owed.6.

Check out the area and see what they are going for.