I wouldn't think that would bother the bank, their LTV isn't compromised, and if it doesn't affect the borrowers ability to service the loan I don't see their problem...?

My idea of "rich" is waking each day knowing that I am working because I want to and enjoy it....Looking to just get my feet wet in wholesaling to help in building up knowledge and finances to allow me ability to buy and hold at a later date.....Reading about mentors right now and if there is anyone in the Omaha area that wouldnt mind helping a newbie out it would be greatly appreciated....dont have vast knowledge to pass on but willing to learn and help out however I can be of help even to a "seasoned" investor!

Coupled with the custodian fees, the returns I could generate wouldn't be worth the headache.Prosper offers to pay all custodian fees if I invest it there, and because it takes little work, along with the ability to get descent returns, I decided to invest there.See here for lender return distribution: http://www.ericscc.com/stats/lender-return-distributionAs far as getting around usury laws, I'm not qualified to really have an opinion, but you can read about it here: http://www.prosper.com/legal/compliance/I completely agree that I can get less risky investments in real estate or even doing hard money, however, with the low amount of money that is in my IRA, its simply not worth my while to spend too much time or effort trying to deploy $5K.In a few years, after some more contributions, I may have a different attitude about it though.

Actually, your job is your biggest asset in terms of ability to acquire loans.

Saying the owner would allow 50k to a homeowner shows personal attachment, meaning they may not be motivated in reality.They are in no position to dictate who buys, that limits your ability to operate, so you need to work on them as to a sence or urgency.Get rid of the muchers if they are there.After the loan is brought current you can look to a wrap arrangement, a lease/option would allow control, a sub-2 put someone in to make repairs.

The lenders don't give a flying rats a$$ about your "equity", but more about your ability to pay, which goes back to DTI

You are doing yourself a disservice by underestimating your abilities.

There are some advantages to having access to your local MLS to comp your projects beforehand, see the history, and the ability to list it yourself when you're done.

Sounds like a use of funds problem, I suggest you talk to your bank, then other banks.It's all about your experience, ability to perform, getting deals/jobs done on time and on budget.Look for local private money, many Realtors will get involved, they may not be lenders per se but may do a deal.

Tell the lender to give you a loan committment showing your ability to borrow the funds under the terms offered, if they can't or won't get another lender.