Most people utilize it for short term funding (ie for a rehab they plan to pay off/back quickly, skin in the game for a HML, cash purchase that they later refi, etc.).

Electric and natural gas service may not be discontinued while you are in possession of your unit.

Most of the time there is a mortgage pay off on the sale of the old property the client simply replaces that mortgage.So some hybrid options available to you depending on the nature of the total gain/dep recapture you're looking at.1.

(She lived there when I bought it).We did several cleanings with an enzyme cleaner (Nature's Miracle) which helped but did not entirely eliminate the odor.

My thoughts:30% split sounds LOW if this is on end profit, AND, you finance ALL of it30% ROI on your money sounds HIGH if you're at a normal LTV - and just sounds scammyAs stated, most HML will write their notes at 8-12% ANNUAL interest with an additional 2-3% upfront (paid through funding)Be very weary of anyone with no skin in the gameOrange and the rest of CA is very competitive and the margins for Flips rarely allow for this sort of return (unless theyre referring to profit split) I don't understand why the Real Estate Agent would gain ownership to the property if borrower defaults?

You may also get a better insurance rate as a natural person owner. 

There are many things to learn, first your response to tenant requests is either NO or I'll think about it followed by No and you need to develop thicker skin to be able to ignore these  petty issues.

I was looking to gain proper knowledge on how learn “your market”, strategies, real numbers and things of that nature.

If I partnered on this deal there wouldn’t be enough skin in the game to be worth my time.

If the agent is so confident about everything going well, then they can have their commission held back until you get the property in your full possession, fully vacant and in the proper condition you agreed on....... let her $$ be on the line until everything is finished up correctly....The dual agent gets paid no matter how bad it goes for you....they have zero skin in the game after the sale.