a few days late since i am super busy with the current rehabs, but closed on #19 on thursday night. worked on it for awhile with the listing agent and the brokerage. they apparently have a great relationship with the feds and kept trying a few times to get the best price. about a month+ ago, it was listed at 72k, i believe. then a few days later it dropped to 64.9k. i offered 52, but they didn't take. they said they had another offer. then i offered 55 and stuck to it 3 times in a row. they said best they'd do at this time was 55.5, so i took it.it's in Garden City, but on the border with Westland. it's on a cross road (one that goes between 2 major roads, so that will push some people away. numbers look like this:purchase - 55.5krehab - who knows, after 18, i still can't estimate properly, but i am hoping $20k at mosttaxes - $2,500rent - average rent is $1,000the problem is that i am out of money right now and can't touch it until i am done with the latest 2 rehabs. i might do a little here and there like demo and cleaning up the yard of trees and such, but no major installs until we are done with the latest 2.my goal was 20 a year ago. i am close, so i just need a new goal.

But they'll want to evaluate your overall financial situation before opening a relationship.

HMLs coin the private lender phrase to avoid several lending issues as well as some marketing spin to describe the relationship.

You have to know someone extremely well to trust them with the mutual respect that this relationship requires.   

Now to build relationship first =)  I will look into it.   

It is a serious relationship that will evolve soon.  

And, of course, they want full indemnification for basically all but burning the place down themselves.I don't know if I want to start the relationship off with what I perceive to be an attempt to rip me off, even if I can negotiate it back down to reality.But before I do anything, am I wrong that this is outrageous?  

There are business reasons to have an entity and they are necessary for prudent business relationships. 

The property is where most of the value comes from, but it's also has somewhat historical significance because it is the original home of a pretty famous artist.

We're doing a lease audit, etc soon to verify accuracy.The lender is local and wants a relationship with the seller as they are successful so that is how we worked that out but we've talked to other lenders we've used in the past and they seemed to think it'd be no problem.aaaaaand I don't know how to link names quite yet soooo.. forgive me.