Check out the Fannie/Freddie websites for general terms, or speak with a broker/lender for more specific terms.I've underwritten 30 year am with non-Agency lending sources in the last 30 days (Banks, credit unions, etc.); if the asset is in good shape and performing, and the borrower/guarantor is strong, shouldn't be any problem finding 30am. 

Mike Williams I think in general the numbers look good.

I called the CCB today and found out that I do not need a Residential General contracting license to flip 3 or fewer homes in a year.

A joint venture is essentially treated as a general partnership. 

The IRS allows a five year depreciation schedule for flooring in general. 

(Roof/AC/general property review).

I have been talking to a few individuals in similar circumstances, and that was their general feel too..... until I stated 'educating' them about the potential benefits of it :-) , partially trough sharing posts and blogs from here at BP!

When you use and agent the earnest money is generally collected by the buy side broker and then deducted from their proceeds at signing.

The property is being marketed to the general public and therefore is expecting a market-value offer.

Doug I have met many mainly when I bought their home at auction because they let their kids borrow against it and blow the money.and of course in my 30 plus years of loaning HM I have seen a bunch of this activity over the years.18 months ago I had a wholesaler contact me ( which is rare because I generally wont talk to them)  but he got through to me and it was a property in Charleston SC were I build.. and the price was right .. but when I did a quick title search I saw that he had recorded a power of attorney for this lady that spelled out that he could sell the house and pay her 100k  and he was offering it to me for 196k.. so I called him on it.. and said hey there.. this lady obviously does not know what she has  the value is in the lot.. so no real up side as is unless you build a new home so for me to buy it at 196 was about market..