Don't give money directly to seller; in case the deal falls apart, the seller might blow the money first, but the escrow agent won't give the money away.Local practice will determine whether the closing is with an attorney or title company or other party.

@Dan Grove I believe everyone should have some Real Estate in their portfolio so I advocate for that before the stock market only because I KNOW real estate.

They have some nice new models that would blow you away, prebuilt with all the amenities you need and ready to pass your cities inspection processes.

I.e. if purchase is $150k, and rehab budget is $150k, I would want to have at least $350k available, as it is not too hard to blow through $50k on a major renovation.If you are just getting into flipping, I highly recommend you use cash.  

Joe Blow doesn't distinguish the difference.

There are a hundred ways to get caught doing illegal financing contracts, things happen in life, death, bankruptcy, medical issues, incapacitation, other law suits and just mentioning something to the wrong (right) person can blow these deals apart.

I don't ever advocate for lying to Tenants.

Again, I can't see the documents so don't know what you're dealing with here, but tax exempt entities are not a very straightforward or intuitive area to deal with, and if you structure things improperly, you could risk blowing the tax exempt status which could have major repercussions.

It's nothing phenomenal, like, mind blowing, but that's the way I like it.

Have sprinkler systems blow out (if applicable)5.