So effectively, if you buy a $250k appraised home for $175k, they treat it like a $175k purchase and expect you to put in 20% of $175k when you refinance.

No one should buy a sub-to deal unless they fully expect to make all payments related to the loan.

Rehabs ALWAYS take longer than you expect, ALWAYS cost more, it ALWAYS takes longer to sell, and you ALWAYS sell for less than you thought.The rule of thumb for fix and flips is that if your buy and rehab costs are 70% of the ARV, you will make a 10-15% of ARV profit.

There are people there who can truely say life is hard but in our country the poor people(welfare) are fat and oppulent have TV's Cars homes to live in more than enough food their children get a free education.....they are not not skinny and withering away .I'm just saying keep things in proper perspective.

But he still should offer the buyers agent a decent commission if he expects the house to be shown.

For example: because of the tax rates here, we can expect to generally pay in rents about 1% of the home value.

I expected you to be from Wisconsin, not NC.

I've a sense for what people expect as far as referral fees go.

Get a degree that can actually land you a job if you need one.I also seriously suggest a foreign language.You don't need a degree to do real esate if your ultimate goal is to wear jeans with holes in the knees and hang out with small time contractors as you do small deals.That fix and flip stuff gets mighty old when you are old enough that your knees hurt and your back is screaming by the end of the day.If you expect to get up to bigger things and swim with the big fish in real estate, lacking education puts you at a real disadvantage.

So far I've seen both ends of the spectrum, so I'm not sure what to expect.