Pretty standard deal.Okay, maybe he should find another trustee, sue the buyer and take the property back (and pocket the 10k down payment).

“Standard Purchase and Sale Agreement“?

Now I will add the caveat that this December and January have been the worst I've seen in six years with respect to tenant quality, such that a couple of colleagues and I actually stopped marketing our properties in the beginning of January.

Area is suspect, not war zone but always historically low vacancy and low quality tenants.

Again, I know someone who used to teach RDPD training and I know plenty of details about the quality of training and the tactics used to extract $$$ from inexperience and naive investors -- if maintaining an overly harsh tone will save even one wannabe investor from throwing away hundreds/thousands/tens-of-thousands of dollars, I'm happy to maintain that tone.

A purchase agreement: my question is do I use a standard purchase agreement or a special one for owner financing and where is the best place to get it for free online or other?

Of course, to maintain your reputation for future business, you need to do everything reasonably possible to make sure this is a successful investment, such as performing a quality rehab, placing a good tenant, and staying in stable neighborhoods that are attractive to good tenants.2) Sell your rental property to a passive investor at a reasonable markup, where you then lease it back from them at a somewhat below market rate.

I'm just getting involved in the market and don't agree with the typical terms, but in Orlando here is the standard:1) $2,000 deposit2) Non-refundable3) No inspection periodSo, as you can see, you really have to do your due diligence and know your stuff when dealing with wholesalers.

Long term goals are to wholesale and give my family the quality of life they deserve.scott

Now i know that flood insurance is a small price to pay upfront, I not only had to work with the code office, but FEMA regulated how I was to get my homes back to their standards.