What HUD guideline is that?

The guidelines can get confusing so don't feel bad for asking questions.

Larger operators can”t afford to gamble with the job because they have higher sunk costs in crew, trucks, estmators and answeing services and they just follow their business plan...bidding a job at what they n eed to pay overhead and make a reasonable profit.

@Eric Gamble; thanks for the welcome!

When you get comfortable you will find your own words but still have all of the guidelines from the script built in your head.

One partner has a gambling problem and all the sudden money walks from the account.

Being able to collect a commission on a buy is nice and waiving or reducing your commission in exchange for a price reduction can make your offer more appealing as well.As an agent buying properties, you will be held to a higher standard and must adhere to your states guidelines when dealing with sellers.

HELOC guidelines are going to be specific to each lender.

Based on this, I am thinking asking $150k from someone who potentially wouldn't qualify otherwise isn't unfair.The main topics I am hoping to learn more about are:Rate (to charge buyer) - I am thinking 10% is fair, but want to hear other opinionsLegal (to protect myself) - I am not a lender and want to make sure I am within guidelines of not acting like a lenderFinancing and Arbitrage (to leverage) - What type of agreement can I use to take a loan out on this property, and still owner finance to the end buyerTerms and Reselling the Note (tax benefit and reinvestment) - Amortizing based on a 30 year note with a balloon payment at year 3-5 or so sounds ideal (based on my initial basic modeling), but not sure that would make sense to a buyer. 

As someone starting out, i think it would help me to have a bit of a guide line in what I should actually be looking at as i walk thru a property so that i will not miss as much.