If not, that may explain why the current owner is paying the utilities.

I was first explained the thought process behind this from a colleague I met at a conference in Florida.

I was first explained the thought process behind this from a colleague I met at a conference in Florida.

I ended up going to an insurance broker and explaining the problem.

It explains the whole process pretty well.

Can you explain to me what your reserve requirements are?

I would encourage you two to sit down and talk about what you would like be true of this property (in 1 year, 5 years, etc) and make sure that you both thinking of the objective as the same. 

No K-1 or partnership involved.As far as "will be determined at the personal level", can you explain?

It was explained to me as each plan holder has the option to waive the 10% ding if they choose to participate in the program.

I think this is a real hurdle for some people, and may explain why wholesaling tends to attract some shady characters (Please don't misread that.