I have heard many reasons for working it this way, most of them are for financing with HUD products.

Let's not harp on the agency aspect or licensing issues, but look to other matters legally and ethically, how to value a service.I agree that you base valuations of a product on the market, saying what the market will bear is fine, so long as you start there and then begin deducting costs or repairs, transaction expenses, and a reasonable profit.In any service business, reasonable compensation is set to the value of comparable services. a heart surgeon is compared to other heart surgeons, the variation of their fees is based on their experience, education, expertise and reputation.

It sounds like your 4/20 was a lot more productive than many other people. 

Focus on getting free cash-flow, that way when you're doing pro-formas you can take into account things like depreciation, etc. when looking for after-tax income production.

You might want to try and find a good product that you can really get behind, but the training part will be good at nearly all of them.  

I can't entirely envision the end product.

I believe nail on means that stucco is removed and the window is more of a built-in product like you would do with new construction.

We're just using a product that most banks offer.

Both have portfolio products.

I can't go refinance a rental, buy a fancy sports car and call it rental interest.Does that make more sense?