Just refers to them as "out of Pocket expenses".PROFESSIONAL PROPERTY MANAGER REQUIREDThe properties in this loan must be managed by a professionally licensed property manager.

I might agree to that, as the agreement goes on, I establish an interest on the entire inventory held at the time of the agreement as I can select any home.

Establishing a cealing.

Off hand, I'd think it's probably putting you or the finders in an illegal position acting without a license, but can't say as I don't know what the relationship is.

Your established relationship is a good thing, but keep looking, there are lending alternatives to the arrangement you mentioned.This was a pretty good opportunity and if all of your numbers are accurate, it sounds like a real "bread and butter" type of winning deal.

I do know some Board of Realtors (MLS) and some RE companies do require a minimum level of service by licenses agents which is above simply putting the property in the MLS but that's not illegal (not that you would know that when you talk to some agents).

Thanks @Akiva L. for the links you provided, this way go long way into helping network with established REI in the metro Detroit area.

I've established some relationships with real estate agents as well as wholesaler's in the Valley, but I'm interested in hearing both sides of the argument (i.e. folks who have used a real estate agent and those who have not).As a bit of background - This will be my first property that I purchase and expect to finance it using an FHA loan (3.5% down, leaving a cushion in my bank account for any unforeseen expenses).

I am an investor first, real estate agent second (got my license for purposes of aiding my investing career).With what is admittedly just a passing glance at ListingBook, I don't see why an agent would be interested.

Selling the property "Subject To", by conveying title to a new person without satisfying the loan, does not remove you as a borrower or remove the obligation established through the security instrument and note.