We found an older man who wanted to "be the bank" for us and carried the note.  

FHA carries life of loan MPI if you only put down the 3.5%.

Find out if seller will carry financing and at what terms.  

If your target list was scrubbed for equity before mailing and your mailing house ran data through the CASS certified or other address confirmation system, this means your target only recently became unreachable.After re-confirming property ownership you then skip trace this target and decide if you will mail, call or knock, or all three.

Guys, I don't want to get carried away with details as the house isn't complete and not on market yet, but I wanted to share some pics from my latest flip...because, well, I like when people post flip pictures on here!  

I have searched these forums but can't find many clear discussions of the terms that would be fair for us to partner on a house deal.As we have it, I have formed my own LLC and would buy the property and put in all the money for the renovation and carrying costs.  

if the after care of the program is carried on by Utah based fulfillment companies then you will want to be cautious.

For example, a lot of Fannie Mae homes carry a 90 day deed restriction, meaning you can only sell the house over 120% of the purchase price within 90 days.

I have several clients in FL who do not carry property coverage and only have $1M liability for about $110-$120/unit/year. 

Correct, but principle & interest can be shown as Other Expenses and reduces net profits.2) Be aware that purely passive income PnL does not carry back to the 1040: it is self contained on the Sch E form.