Everyone above said it best...there is no reason not to list on the MLS when you resell...If any buyers have an issue with the fact that your spread is so large, remind them that you did a lot of rehab work and had a lot of holding costs -- many buyers see that you purchased for $50K and are reselling for $130K and assume you're making $80K.

It sounds as if you have a good understanding of the business parameters, but to reiterate - full disclosure to both sides of the transaction that you are an investor intending to resell for a profit is the only way these are getting closed.

I manage property for a couple of investors who were sold property at probably twice what they could resell it for.

If the REO bank wants more, they can ask for more.As far as the back to back closing, you may have to explain that because I hope you are disclosing in your offer that you intend to resell the property immediately.When you explain it don't say Double or Simultaneous Close.You just explain that you have a buyer lined up and after the REO purchase closes, then you will be selling it to the other buyer.

Where can I find a resource or organization on what not to do in REI?

I asked her about doing short sale deals outside of the partnership;she said that no other organization has the backing of the state's board of realtors and their processes and for me to use another's contracts is just me playing with fire.What do you think?

But make sure you do your bookkeeping and stay organized.

Spoke to my attorney today, who represents many Short Sale Investors, and he informed me to clients of his last week got either approvals or affidavits (can't remember) from Wells and Chase requiring the buyer to sign stating a lot of garbage including they wont resell for 30 days. 1 from each.

It's through these organizations that you will find these people.

I think it best to have someone who is part of your organization whom you can train yourself.