Although I value my time, as the owner, I recognize this in the cash flows.

It's an NAR recognized designation.

Some he sponsors, some I sponsor, etc.After this initial discussion, I’ve proposed two things to him: 1.We need to negotiate a slight reduction in the builder’s percentage of profits2.Whoever sponsors the deal should take a 5% developer fee from the profits (*he said he has not done this on prior projects)I have a full time job and am going to be relying on him to do a good portion of the work, but I recognize I’m taking risk by bringing the equity and taking out the loan.

Gambling in LV has no comparison with getting your money stolen and being lied to.

I've had good experience with online auctions to buy and sale.I use a reserve price when listing with an auction.Research the auction policies to become familiar with their procedures.Also, learn a good bid strategy.Due diligence on any property is also important.And, beware that bidding (and winning) can become very emotional and "addictive" similar to gambling in my opinion.

Keep in mind that you need to recognize if you are reading a blog that is going to help you move forward in your real estate venture.

Sure, I would have the seller as an "Additional Insured" and the lender as "Mortgagee", but wouldn't the bank recognize that I am the owner of the policy and have a problem paying for my insurance from the seller's escrow account? 

If you don't have the ability to buy, don't waste their time making them think you do, just tell them you're looking and move on.I walk into a house and if the agent doesn't recognize me (many don't now as most are new) I tell them my name, say I'm just previewing, thank you, while I continue walking, especially if they are with another looker.

I'd try to turn it over at minimum 3 times per year rehabbing and flipping until I could pay it all back and have my very own pile of capital warehoused to gamble with.

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