I do have the 90 day restriction.I also thought of LLC as the by-pass method but my intention was to rehab and flip, at least till now.

This could actually include stuffing your cash in a mattress during a deflationary period because the buying power of your hoard increases, however, for most intents and purposes, saving is socking your dough away in an institution, often insured, with a guaranteed return, usually very small, but you can literally bank on it.

I'll try to interpret your numbers to make it easier to evaluate.Total for 2 duplexsPurchase price 800,000Down Payment 200,000Amount to finance 600,000Gross Annual Rent 48,000 to 72,000 (1,000 to 1500/mo/unit)Your vacancy, property taxes, insurance, property management, capital expenditures, repairs, maintenance and other rental costs will like eat about half of this rent on average.Your intention is to finance with an interest only LOC.

If your intent is to NOT CLOSE if you cannot find an assignee, you need to state that in your contract.For example, if you simply put a line there that says, "Buyer reserves the right to assign this contract", and you enter into the contract with no other back-out clauses (Or get beyond your diligence period), YOU ARE STILL OBLIGATED TO CLOSE.Legally, the seller could - at the very least - keep your earnest money.

that is amazing....for my apartments i have to pull a permit for new carpet...now that's commercial and a different ballgame, but it shows the extent that my county has gone to....it's gotten crazy here...did they know it was your intent to flip??

Our intentions were to be short term but instead we decided we loved the area and wanted to short sale, as offered.

You can report them, and report it to the FBI as fraud as they never had the intention of making any loan, but in the end, any money you get back will require you to act on your own toughness.

The intention is that the seller is supposed to be hands off w.r.t. the appriasal so that the appraisal is more representative of the true value.

For all intents and purposes, "wholesaling" is "real estate brokering".

Also, in reference to the dozens of lowball offers, are you presenting the owner with an actual Purchase and Sale Agreement or do you have a simple 'Offer Letter' stating your intentions - or maybe just a phone call?