The owner was in his late 70's, not enforcing rents, and had the building leased at less than half of market value.So the wholesaler had this beauty locked up at $1.3mm owner financed with 20% down, 6 year note on $520k at 3.5% and the remaining $520k due on a 6 year balloon with 0% interest.

When serving a buyer, seller, landlord, tenant or other party in a non-agency capacity, REALTORS® remain obligated to treat all parties honestly. "  https://www.nar.realtor/about-nar/governing-documents/code-of-ethics/the-code-of-ethics#!

But technically it's still coming out of my pocket as I could use that remaining credit towards other closing costs and bring my total cash to close down if I didn't have to use almost half of it to pay the brokers commission.

I pay the 7% on the money just like a loan and keep the remaining profit.

You can put all of the money into the new deal and/or you can take a kickback of the remaining funds. 3 - I am not quite following your capital gains question but in general all of the proceeds from the sale should go to the purchase of the exchange property otherwise you may have a tax event. 4 - Is this a living in flip? 

I’m also assuming the Walgreens lease is flat for 20 years of firm term and then 5-year cancellation rights kick in for the remaining 55 years of the 75-year lease?

@Sean Grieve  Great topic that doesn't get enough attention on BP, though your title confused me for a sec.I use the unscientific measure of six months expense plus the two largest items that could fail unexpectedly (ie water heater, HVAC compressor...) for repairs and the schedule of life expectancy table that is in the BP books for CapEx of the major items and figure out the remaining life and how much I need to save per month.

Hoarder houses are one of the few remaining type of properties in the N.

Right now I am in buy mode, but we are trying to remain conservative and stay in a good cash position.

9 for 10 here with one remaining that should pay today.