Him, myself, and my real estate agent physically go through each property together to define a best possible and worst possible estimate of rehab costs prior to purchase.We complete an extensive pre-purchase inspection list and then we develop a task-specific SOW.

With me being new to the wholesaling aspect of real estate I'm not sure if it will take me longer to get my first deal in a city like mine.

However, I can also see that a lender would say the intent is there and that the conditional aspect is easily met.

School texts that are being replaced are pretty cheap.My library is packed in boxes, I've been meaning to blow the dust off a few books, when I get them out I'll post titles.I really advise those in RE to do some studying, law touches on every aspect of RE and you should be aware if you are dealing in RE

Article 25 defines a real estate broker as an individual or an entity, who with intent to collect or receive a fee, compensation, or valuable consideration, sells or offers for sale, buys or offers to buy, provides or offers to provide market analyses, lists or offers or attempts to list, or negotiates the purchase or sale or exchange or mortgage of real estate, or negotiates for the construction of a building on real estate; who leases or offers or rents or offers for rent real estate or the improvements on the real estate for others, as a whole or partial vocation; who engages in property management as a whole or partial vocation; who sells or offers for sale, buys or offers to buy, leases or offers to lease, or negotiates the purchase or sale or exchange of a business, business opportunity, or the goodwill of an existing business for others; or who, as owner or otherwise, engages in the sale of real estate as a principal vocation."

What exactly is your objective and your goals (and should be more defined than just buying a property)?

Seller Financing - I define that as "Can the Seller help the Buyer Buy It?

I like the transactional funding as well.I really define it in two different terms.Transactional funding (a.k.a.) flash cash - Your money is tied up for one freaking day.

I would agree with both Rich and Jason but from two different aspects.

Definately let them know that if they perform well that there will be much more to come and that as you learn the process will get smoother from your end.