What I was going to propose to him was that we both are on title to the property, he'll wire the money in straight to the title company on the day of closing, and on the back end, we split the net profit 70% to me and 30% to him (even playing around with 60/40 which I think is more appealing to him, and I'm ok with).

They're ordering materials in advance and having them drop-shipped straight to the job.

IMHO, I have no reason to discount or discredit the skills of a good appraiser, they will be more consistent, which is really what it is all about in the end than the other two.

It needs some major rehab, but we got another discount on the purchase price and are encouraged by the potential rent numbers.I'm in low-income areas for a couple of reasons.

We can also see the Joe devised a method to transfer the equitable interest in whole, to the same extent as if he had conducted a straight sale and transferred physical title to the property.

Its about halfway down the page but you should read the whole discussion. http://www.biggerpockets.com/forums/48/topics/105228-buying-houses-at-a-huge-discount I don't want to hijack Matthew B.

I get the sense that I could get it at a discount, but it is not a property in need of work.

Originally posted by Geof Greeneisen:If you purchase the $80k second note, highly discounted, say for $2k (as example) you can only foreclose for the amount you paid not the original value of the note.

A straight forward Letter of discharge was not something they would entertain.

I don't know where you are with the numbers at this point, but I'd keep at letting serious potential buyers know you are open to an offer that discounts based on the septic.