What they did is proper, paid off the old loan with the new one and a new dot.

If for any reason, you and him are not on the same wavelenth, you can be rest assured, you will have to really really go the extra mile to ensure all the i's are dotted and t's are crossed during the various phases of a deal.

Replacing toilets with 1.6 gal (not the cheapest ones, you can get good ones for about $180 that also save you money and still flush properly) low flow shower heads, etc.

I believe that for wholesalers to serve investors the best need to be able to properly estimate rehab costs, estimate ARV, and analyze a deal just as if they were going to purchase it themselves.

I have never done any flips but I could see where if done properly to maintain the arms length transaction it would be nice to have the gains in a sdira.

If there's broken glass and they didn't clean it up, then you need to get in there and do so to ensure that they can't hurt themselves -- don't wait another day/week/month -- get it done.

The new packet serves as new and proper disclosure to the borrower.

Something I've noticed is many properties are listed with the '12 (pre-AVI) assessment so you have to be careful before you get too excited about the numbers and ensure you're looking at the post-AVI tax burden.

Take the proper time to absorb it all.

My first 8-10 deals I intend to spend A LOT of time reviewing possible property's to ensure that I'm doing everything correct and so I can begin to grow the best reputation possible with my investors.