There are plenty of REO's out here but the quality is so bad you couldn't give them a way for free especially if they are wood frame.

If you can prove and show that neither the disdqualified party or the IRA owner is benefited more than from any other standard transaction, the IRS may grant permission.Is there a timeline . . .?

Standard hedge fund referral fees are about 2 or 3%.

Kiran - We took crappy code and transformed it into quality code.

Remember as an investor it is not the VOLUME and size of the deals you put together because many can be crap it is the QUALITY of the deals you do.I would rather spend a few months doing an awesome acquisition than buying up marginal to okay deals left and right.I have seen this happen on flips and long term holds.In both cases the investor did real well on one property and then started getting carried away.Pretty soon a couple of marginal deals starting to tank their long term portfolio into a neutral or negative position.Even on flips they made good on a few and then the next few went real bad and they were almost at square one again.You have to treat this business like a pawn shop.You will come across many sellers but few will accept your price and terms.So you have to keep going or come back to the seller until they get desperate enough to meet your terms.A classic tactic with a seller is when they will not accept your price and terms.Then a few months pass and they come back to you.Then if you have a couple deals on your plate you come from a position of power.You let them know you are involved with other projects now and to take this property on now you couldn't pay what you offered before and can now only do XX.There will always be another quality deal to be had but millions of marginal to okay deals to get stuck in for years and paralyze the growth and success of your real estate investment portfolio.

If this is an REO purchase using a standard state contract, it's nearly certain that one of the provisions of the contract is that the bank will have to provide clear title; if they can't provide clear title, you will have no obligation to close the deal (though they may have the right to extend the closing date to keep trying to get clear title).In general, with REOs, title is one thing you really don't need to worry about.

Better quality properties attract better quality tenants and your vacancy rate drops.

We all know that tenants use the highest quality labor, materials, and techniques when fixing our properties...hahhahahhahahhahahahah

If so how do you rate their service, seems pretty legit after going through their site.I presume the $99.95 option is the optimal and standard choice for most.

As Jon says, it can be done and was once standard practice.