If you think what I did was wrong or unethical, please tell me how you would have conducted the transaction?

You will have the opportunity to verify and conduct due diligence on the tenant as wellDeal returns are  35%/yr and/or approx $25225 per year Tenant option down payment total approx 5% ($23,000)Tenant is determined to purchase house in a 2 years time frame from you at a price of $480,000 Aug 2015 appraisal confirms value to be $460,000 and landlord is willing to sell at the appraised value of TODAY if it checks in lower than $460,000Landlord also willing to hold back 5% second mortgage if required to minimize cash investmentLooking to close before Feb 28, 2016 or sooner

So long as people pay as agreed, nothing is required to be said.While there are many requirements, generally, the beauru looks initially to how much business you conduct, so if you were running a retail pottery shop and financed purchases and had a hundred customers a year, you wouldn't be picked up, but as a mortgage company doing a hundred deals a month and servicing loans, that's enough credit inquiries for it to be profitable.And there are two inquiries, an in-file that gave current status and a loan'mortgage credit report, where accounts were verified and updated on a new report....that will cost you.

Some insurance companies might deny a claim if they found out an accident occurred while a vehicle was being used to conduct business.It can take time for a corporation to build sufficient credit to purchase real estate and even then it maybe necessary to personally guarantee it.

I am learning to use public records on line and at the court house to conduct research.

I am venturing out into new waters here in two ways. 1: I'm going to be conducting two rehab projects at the same time.

You'll find that by the time you can do all the things necessary to wholesale a deal properly, you'll have the skills and knowledge as well as the ability to conduct business that you don't need to wholesale it, in other words, you'll have other options available to you to take better advantage of that opportunity.

Today, May 5 I found a n auction foreclosure in Virginia Beach that was conducted at 2:00 pm.

Many of these people will take the plunge, but as I would expect, probably most will not, after conducting their research.

Therefore, appraisals and Internet research of other properties is of minor value to your research.I believe in becoming a neighborhood expert prior to any purchase consideration.My mentors and experience have taught me to conduct thorough research and know more about the property, neighborhood, and target market prior to any purchase consideration.