In NYC, process matters more than principle. 

Reliable cleaners are essential to success and I was grateful to earn Superhost status on Airbnb a few years ago - and (so far) maintain it.

Keep in mind appraisals go through secondary reviews from the bank and that bank could be in some office building in the mid west where they may look at the appraiser as being crazy for giving a $150,000 value for essentially a converted garage.

@Stacy Raskinyou failed to mention what happens if the property owner has set up a triple net lease with a management company essentially guaranteeing a specific amount of income with no taxes, insurance or maintenance expenses.

It's essentially left for interpretation, which is not a good idea from the rule makers.

The current challenge is that many sellers and wholesalers are still pricing based on past growth trends, which no longer align with today’s market reality.​To secure a deal in this environment, volume is essential.

You essentially give up your ability to be a fiduciary when you do these deals and there's no value you can bring to your client, only the wholsaler wins. 

But instead of closing on the first call, it turns into multiple follow-ups, and sometimes the deal just fizzles out.So my question for the community is:How do you move from agreement in principle to an actual closing?

It breaks even, essentially, and I am only hanging onto it because I was unsure of my job/future path at the time.

Success depends on four things:Buying at the right price.Renovating on budgeFinishing on scheduleSelling at the projected price.Eric, you already bought this property, but these principles still apply.