If you have no license then you breaking the law (lawyers are partially or fully exempt from the RE license regulations in most states).If you are a principal in the deal then being paid to sell your position or your rights in the deal is legal.The HUD-1 document is not required in all transactions.

Andrew,I know a bit about the metro Portland market having invested there for years on and off (presently holding no positions there after a sale this last March).$5K is a tiny amount for the market.

You get title and the lender providing cash gets 1st position.

Well done to the two of you.I wish we had more debates where people had strong opinions and yet they wrapped up the comments with a positive exit.John Corey

:crazed: I haven't met a single person here that's been influenced positively.

Your position is pretty unique for the group.

I'll simply say that your positions are heard.I know that some of my observations could not possibly be popular on an investor forum, and now having said that, I look forward to other member comments.

His position is about to get really bad.

Wouldn't rental properties then be in a favorable position?

Notice that there are at least two clear exits that work in this deal.Buy and hold as a rental with positive cash flow.Buy and sell (or flip before buying) for a lump sum.A good deal provides lots of ways to work it.