You may also be requires to undertake an environmental assessment of the property by the lender (to prove there are no old USTs or other surprises waiting to ruin your, or rather, the lender's day).Where you can often successfully purchase a residential property without using a buyers agent, an experienced commercial broker will be an invaluable player on your team during the purchase of your first few multifamily properties.Enough rambling ... and I did not even get through the purchase processes ... must take the boy to daycare.

People will start to recognize the signs with your name and think you're a player in the area.At the open house talk with every guest and get as much information as you can.

Here is what I found online today:From texasfairplan.org:"As a market of last resort, coverage available through the FAIR Plan is not as comprehensive as coverage available through the voluntary market.

I'm thinking of tossing him the idea and just telling him "I'm interested in purchasing as a last resort for you and if you're willing to do seller finance".

It's neither a heavy cash flow property like many on BP look for nor a break-even/cash-flow negative property that appreciation players often take.

either in Rehab Costs/Comps/Profit, ROI, Cash FlowI have a short period of time to move a house and it is hard to know who the real players that will execute unless you have a strong solid buyers list.

There are several players on BP.  

Buying agents need to make a living too and if your paying a discounted %, they can and will take their clients to the full commission homes first making you a last resort if at all.

Fees for multi million dollar deals are higher than for a standard deal below $1M as there are few players with that capacity.

That is complicating the situation a little as we are guessing instead of getting a more reliable set of title information.So, I think you have to resort to a full title report.