To hit $300 cash flow, you may need to be in a D Prop neighborhood that will create problems and often cause your long term picture to be far less than $300.

purchase price 30k 25% down @ 5% 30 fix 3 plus one SFH built in 1954 new roof, ac, windows, ktichen cabs, counters 1000sq ft Corner Lot 9000+ sqft 700 garage/steel building shop..ran test ad for this alone seems $180 House rents at 750 to 850...I ran test ads plus reserched Market-PMs Section 8 is around $900 Needs $3000k carpet,paint, vinyl, misc use home depot cheap stuff Wells Fargo Appraised $44, 500 arv I have team for maintenance and pm if needed.

The floor might also be bowed where the toilet sits from rotted out sub floor and needs to be redone and extra structuring underneath.If the light fixture has sustained water below it's best to replace it rather than something bad happening later on.

Then add a good umbrella policy for added security.

What ever monies extra you give him for being a nice guy, comes out of your pocket (profit).

But if they are delinquent, you can pay up; you just want to make sure that info is added to your credit report so that it says "paid in full".

So like I said Ive never encountered this before, should I just have my name added to the agreement as a recipient of a separate assignment fee?

Talk to everyone you know and everyone you meet to try to find that person.If they advertise, or respond to ads, they're a hard money lender.

I'd think a good way to un-motivate someone would be to make them listen to some recording, if you had an ad and I called and got a recording, I'd hang up, if you answered my call you can tell in two minutes (or should be able to) if I'm interested and a probable buyer.

You are correct in that there will be extra closing costs, but the cash-on-cash returns with putting 30% down still looks really good.