At that point the investor puts in an offer.However, if the BPO comes in and is a little too high, we want to still make this a win-win for the investor and give a referral fee in cash for finding the lead.I've found this to be a fair agreement with investors.

It sounds like you had to put a fair chunk of money down to get the loan.

Looks like both these guys may have been at least partially correct, but a fair ways off in their timing.

How did you guys communicate?...

Doing it in the contract is normally sufficient but I've seen some agents who do it in any initial interactions.Also if you came across the property in your "normal" day to day work as an agent, then you have to disclose to the seller the fair market value of the property.

Your local yellow pages should have a fairly comprehensive list of commercial lenders in your area.

Is that a fair rate/term to offer the seller?

I would be fairly sure the bank offered you the option of de-winterizing and re-winterizing the house to enable you to inspect the plumbing system.

Expenses like maintenance, repair reserves, advertising, ect should be fairly standard regardless of the area, but taxs are way to variable to fit into the formula

The comps are @$315,000.00 The house is trashed and needs $40,000.00 in renovations my cost.Once I add in closing costs,carring costs, realtor 6% when I sell itthere is not much left for my profit.What is a fair profit margin.