she knows the short sale process and has all the documentation need to complete the short sale package for herself.

It is kind of interesting that as property owners, we have never solicited, nor received, a "regular" (we call them "straight") option.

I have never really received a clear explanation.I would assume they are to prevent some fraudulent activity that has been experienced in the past with refi cash outs, but the banks have seasoning issues to protect from that now anyway.

The management company implied both, because of this: I asked if I can see the lease document soon and they said that they only write the lease 2-3 days before the move-in date.Yes, they also said they use same lease template ( a standard state document) for all their managed properties.

Forgot to paste the Wells guidelines:Effective with new registrations on or after December 15, 2008, Wells Fargo Wholesale Lending will require that properties with increases in value during a short period of time (0 – 24 months) must include the following requirements to document the validity of the increase in value. • Reason for the increase: The appraisal must include the reason for the increase.

They are receiving a check they should work for it (if they can).

You will share in the profits made off of the condo complex, receiving a percentage of the full sales price of each unit.

Yes there are several "exit clauses" you can use on a contract, but I have always done well ,and have received better deals from sellers who have actually turned down other wholesalers even at a higher price because my reputation was that I closed the deal one way or the other.Good Luck!

It depends on whether I use a GC for the project or sub the project out directly to multiple contractors, but I always start with a Scope of Work document.

I don't know about the "coming back to haunt you" comment, but I do agree investors should consult with a knwoeldgable CPA on this topic.Depreciation recapture can come into play, but there are several factors to consider such as: You are receiving tax savings today and then repaying with tomorrows dollar (and we all know the dollar will be worth less tomorrow than today), if your current marginal tax rate is at 28%, then the recapture tax rate of 25% is slightly less, and if the gain derived from the building is less than the depreciation taken, you may only recapture some and not all of the tax.