I cooled off since my first posts, and didn't issue that list of concessions.  

Issues like....How is the income split.Who's name goes on the property.Who pays for taxes, insurance, maintenance.

The issue for me is trying to make my house more open to match up with theirs.

I can't speak on how demo is done in certain states but from what I could tell you being a license contractor here in NY and you being in NJ which should not be much difference is do the following steps.1- have them demo and take everything plumbing and electric.2- the only scrap metal you should keep is copper, but also negotiate with the demo grew to reduce some cost if they want the copper, all other scrap metals are not word it.3- has for the electric, just have them leave you 2 plugs because that's all you need until you update all your electrical. mostly all power tools are cordless so I doubt you will blow a fuse and you don't need any light because you work will be done during the day.ALSO NOTE: do not have anybody mess/touch/remove with any electrical panel or any electrical box, leave that for a license electrician to do because thats a big safety issue that could bring a lawsuit if a non-license electrician gets any injury for attempting to do so.

This may be a long post, but I thought it would be good to walk through everything step-by-step, and explain my thinking along the way.If you want to stick with me through it all, here we go:I was not going to be getting a conventional mortgage for my first property for a number of reasons.First, I am still annoyed at the hoops I had to jump through to get a mortgage for my primary residence.Second, my liquid cash was on the lower end.Third, the properties that I would need to start out with would not be financeable anyway.Fourth, my DTI is on the high side, due to the decision that we made to take out a HELOC to complete interior improvements on my primary house.So, I decided that my path was going to be to form a single member LLC, and take a loan from my 401(k) at work to finance the down payment.Since I do not view the 401(k) loan as a long-term solution, I am treating like hard money, and pay it off ASAP.So, my first deal would be a flip, or a rental that was such a good deal, that I could re-fi out and pull all my cash out.I decided to reach out to the commercial lending department of the local credit union, which I am a member.The person I talked to (who became my lender) is fantastic.I told him what types of properties I was looking for, and that I’d look to turn them into rentals, or to flip them.I will never forget his response, which reminded me why I love this credit union.He said:“Typically, the deals you are talking about are much smaller than the deals we like to do.However, we also realize that you can not get to that level unless someone helps you get there.So, if the numbers make sense, we will see if any of our products fit.”Awesome!

DISCLAIMER: I am not familiar with your states licensing practices but I am sure they can be found at the department of state easily enough.This allows you to advertise to the public.

Floors have been my biggest issue thus far.  

Are there other issues I'm not listing?

But, at some point, you have to trust people.I also agree on the potential issues with the current tenants showing the property.

Baring any major unforeseen issues would allow for a bigger profit on a flip.