You get financing, he gets his loans paid off and walks away with cash.Now if the sale was a week away you'd have to get creative but if you've got time go the safe route, get title insurance, etc.

I am college educated, I have experience in building, as I was a lead OCIP administrator in my last job, so I understand the insurance end, and I used to document derivatives in the past as well.

THIS IS ONLY A PARTIAL LIST.On these thousands of properties, they must concern themselves with occupant issues, safety and hazard issues, legal and title issues, property preservation issues, expense management, documentation and company/lender auditors, investor oversight, potential insurance claims, PMI or M/I claims, government oversight, Fair Housing issues, ooh and Profit/Loss (Values).

This is consistant with Fannie Mae, Freddie Mac, VA, FHA, USDA and any insured lender for a portfolio loan.One guy uses a credit as a seller concession which works for FHA and his angle of business, but it can and does cause lending problems in other types of financing as seller concessions may simply be deducted from the sale price to arrive at the LTV.

Can somesome recommend an investor friendly insurance company in MD?

When you have a lawyer review the document you are buying an option to claim against the lawyer's insurance if they offer you defective advice.John Corey

Good contractors carry workers comp and insurance.

The credit partner needs some verifiable liquid or semi-liquid assets for reserves.Although these are not needed for the deal to close, they are reviewed for verification use only (bank deposits, stocks, bonds, mutual funds, retirement accounts, cash value of insurance or other).The credit partners, if classified as “seasoned investors” can often participate in up to ten or more transactions per year.

What do the (very) current taxes and insurance run and at what per cent, and are tenants month to month?

Asking 350k 12 unitsScheduled Gross Income: $72,000Vacancy (5%):$3600Effective Gross Income: $68400 Maintenance: $7200 Taxes: $12,600 Insurance: $1,200 Other Expenses: $10,600 Total Expenses: $35,200Net Operating Income: $36,800/12=3066.66350k@8% for 20 years=$2,927.54balance=139.12/12=11.59 per unit not stellar by any means, but in the black.