I'm a prospective borrower looking for money for a fix-and-hold project I'm working on.

Given what it takes to even get S8 benefits, I would hope most tenants wouldn't want to rock the boat for fear of losing the assistance.

If terms required of the Borrower are not being met, such as finance contingencies a similar demand letter can be issued but it get's a little hairy and the Seller should get a lawyer so he is not making demands on something that does not warrant a demand per the contract.

Does anyone know the borrower-buyer's IRS reporting requirements in this type of deal?

As you have already experienced there are lots of people who are willing to share and assist.

Eventually when you get more marketing dollars you can send this task out to a Virtual Assistant or Service.I hope this information helps you get started.Wholesaling is about marketing to generate leads, having cash buyers, and getting properties under contract yourself, or partnering with other wholesalers on properties they have under contract.Good luck and Happy Investing!

If you have money in a IRA or 401k that can be borrowed against, the bank will count that as part of your 6 month reserve money. 6 months reserves on cheap properties isn't that much.

Of course this is all on paper and varies a bit from project to project; as others have pointed out, one big factor is where you borrow your money from and how much that will cost you.

Turns out the previous owner who was long deceased somehow received a loan from the department of public assistance (obviously an expired program) against the house.

If you remain on good terms with the seller, they can assist in getting the mortgage company to send documents and final payoff to the Title you will be using for the refi closing.