A deal here will mean you participated in a RE transaction as a principal or even as a broker/agent.How many deals did you touch in some way in 2006.

I could see transaction and holding costs being 20% of the ARV.If the floor is just wood floor that's warped from water, then you just have to find the leak, fix it, and fix the floor, like all cash says.

You're the one that is looking for a benefit, you're the sales person, you're the driving force in this transaction.

I agree with leveraging the amount of OPM in a transaction.

Its a principle that goes back ages, you should not do transactions of such with family or freinds because your relationship will change typically for the worse.I know you are just trying to help your family out, but he obviously needs to learn a valuable lesson here, and I would stay out of that business.Give your uncle guidance without expecting to benefit from this.

97% financing is available from some commercial lenders---usually reserved for owner occupied transactions for borrowers with higher scores then you state.Another obstacle you are going to be up against is the property type you wish to finance---restuarants are perceived with a higher risk then apartment buildings and the end result is a lower LTV allowance.

fiduciary means they have a legal obligation to represent their client and no other person in the transaction in order to get their client the best deal possible.

So long as a transaction is within their scope of knowledge and experience, there's nothing to worry about, regardless of if the other person is green.

Tell them politely, "it ain't gonna happen my friend".There are two sides to any transaction (RE or otherwise), price and terms.

What I am interested in is getting a pack of all the necessary docs to do a transaction.