We're in unique circumstances in that we both have quite high, verifiable incomes and great credit, just not much in the way of liquid assets we want to utilize in the beginning.

It will give us a unique opportunity to have two people we trust immensely in the property.I will send over the requests.

@Rick Day Welcome to BP and welcome to LA, a unique place in the world!

It's not the easiest to keep clean, but you really do get a unique look with painted floors!

I have a unique situation, and since you all are experts in the real estate world, I wanted to get the opinion from knowledgeable neutral parties.

Congrats on finding your first deal.Regarding the property, assuming most houses are 3/1 or 2/1s in the area, being that your property is unique and in a tougher area that could be a disadvantage for you down the long run as far as rent and appreciation.

The value of the note is, to some extent, is unique to the investor.

I see that nobody had answered you post, so here goes.I wouldn't use "someone elses" contract, simply because each deal is unique.

The problem with this particular guru's recommendation is the presumption that money, track record and knowledge account for little; that anyone can use this "unique" system.

Therefore..... and this may be a stretch.... owner or nonpaid renovations in a home that is not rental and targeted for re-sale is exempt.