Who would draw up the documents for such an agreement?  

A title/ escrow company will research to make sure the seller can give you clear title and will draw up the new deed. 

The bank required us to put $17,500 into a bank account from which we could draw for repairs and we put down $2,500 for the owner carried loan.We learned a lot from our first flip and did most of the work ourselves except for carpet and paint.This really helped us to understand on what parts we will tackle on the next flip and what not.Without BiggerPockets I am sure I would have missed a lot in my calculations but everything came in exactly as my predictions were except for the increased market value of the home.We don't have many great before photos, but here are a few.

What is drawing you to NC? 

That's definitely something I did not take into consideration.

Back then Philadelphia suffered from the lack of major employers, but has improved considerably since.

.* Tenants pay a NON-Refundable Option Consideration Fee in order to receive that option.

Also, how much consideration is there for the improvements that were made? 

The way they pay for the rehab cost is through draws as the work is completed.

If you have an off market deal you still need to get a lawyer to draw up the contracts, a title agency to close the property and a conditional certificate of occupancy (depending on the town).5.