Ask him what will happen to the real estate market if the government gets out of the lending and lending guarantee business in the long run.

My first reaction is the government would be far better off outsourcing this to a company is already setup to handle these sorts of transactions from A-Z.

I get more than 6% sometimes on my deals.The brokers/agents going out of business has been touted for decades and it still hasn't happened.On flips when the market was hot any idiot could buy a property and make a ton of mistakes.With everything rising they could still most of the time eek out a profit.If they really knew what they were doing they could hit a grand slam.Today you have to do everything perfectly to preserve your margins.You have to go after properties that regular home buyers can't get financing on or are too ugly for them to want.Investors looking to buy paint and carpet only jobs to flip are looking for a needle in a haystack.I don't deal with wholesalers much when I list an REO or a commercial short sale.All they want to do is collect a fee.When I list it the bank and or the seller in pre-foreclosure knows I can easily find them an actual buyer who wants to own the property for awhile and does not need a wholesale price.The bank doesn't care about the wholesaler trying to be a middle man.The bank wants the highest net and so does the seller in pre-foreclosure usually to reduce their 1099-C phantom tax potential.My friends that flipped during the hot times form years ago are now doing development projects redoing downtown warehouse spaces for conversions using government grants etc. to offset costs.They aren't really playing in the residential flip market anymore because of higher risk now and lower profit margins.

That means the air coming from the rest of the house contains the dirt you are seeing (just for you to understand the source).There is some national body that deals with ductwork cleaning; they recommend that ducts be cleaned (both return and supply ducts) every 4 years or more frequently.Have the ducts been cleaned within last 4 years?

It's a bunch of BS created by our current government and is nothing but more bloat in my opinion.Yes if you are a Residential REO agent many of those are drying up as short sales are being pushed through before it forecloses.So YES I know an REO broker friend who has paired down and completed about 800 residential short sales with a 90 plus percent success rate.He is a beast at them and has it down to a science.Now for me I work the commercial real estate side.

Last thing I am looking for is any problems with any government entity, ever.

The waiting period to refinance will be governed by your lender, not the IRS.If I cannot refinance immediately, can I assume the existing Seller's debt of $5M, put our $4M in, close the deal and still qualify for the exchange?

They talk about rentals as landlord being the government (HUD).

Kind of like websites that say 1 million visitors but it is 200,000 who visit 5 times each.You read Realty Trac in the news alot but I am not certain that government truly uses their numbers to make policy decisions.

Government agencies have much deeper pockets than you do.