In the paragraph numbered 1 of the Love Funding Engagement Letter of August 20,2015 was this statement: LFC will have the exclusive right to represent Borrower in its application to HUD in connection with this project for the purpose of obtaining Section 223(f) mortgage insurance for the Loan and all meetings and correspondence with HUD will be accomplished solely through LFC.In the paragraph numbered 6 of the same letter, was this statement:Any amounts not used will be refunded or credited to the Borrower at the Loan closing.In the paragraph numbered 11 of the said Engagement Letter were these sub-paragraphs:(ii) Each party agrees to the use of binding arbitration administered by the American ArbitrationAssociation to resolve any claim for damages related to or arising from this Letter Agreement, the Firm Commitment or documents executed in connection with closing the Loan (the "Loan Documents").Borrower and LFC each hereby waives its rights to a trial by jury and agrees not to file any complaintfor damages, engage in any legal action or proceeding in any court, or appeal the outcome of a finaland binding arbitration.

A useful thing to remember here is the seller side of this transaction - the performance measures for Fannie Mae employees responsible for the sale of these properties are based in sales execution and time as compared to several independent sources of value.

@Jerryll NoordenI think every new wholesaler goes through the same emotions so be comforted that you're not alone :)  Since you are double closing, funders such as myself would need the executed AB contract and executed BC contract at the very least.  

These systems will give you action steps each day and let you know how to execute each step of the process. 

Spend time underwriting the sponsor and make sure they have a team that can execute and that their goals are aligned with your goals.

Additionally, an acquaintance of mine used a "home stager" when setting-up his furnished executive rentals.There are quite a few Canadians floating around the site and a handful of those from the Big Smoke who can answer questions and provide Canada specific experience ... as you undoubtedly know as a business owner in the industry things are a little different here with respect to financing, regulation and {everyone's favourite} taxation.You are undoubtedly well connected in the investment community already, but try reaching out to some of the local meet-ups (@Gary McGowan runs a monthly meeting out Newmarket way).

Spend time underwriting the sponsor and make sure they have a team that can execute and that their goals are aligned with your goals.

If so, execute a change of lease and, to be shining landlord, once he's out, offer to change the locks.If not, expect (or ask for) notice from both parties and prepare for turn-over.

My dad is into land management, I have a background in executive administration and my husband is currently a property/maintenance manager for 150 apartments - 3 large buildings.

I don't plan on exercising the "advanced strategy" just because there wouldn't be enough runway to execute and it does sound risky.With regard to the bidding service, I did speak to one and I know that they are trying to sell themselves but they implied that the professional bidders basically collude with each other...not only taking turns to keep prices lower for themselves but also bidding up prices when there is a newbie there to "educate" them.