.· Conservative with their numbers.

I have a private party (parents) that would like to pay cash for the project and work out a deal that benefits us both. 

@Jeffrey Donis I understand the agreement part.

I estimated that I would need $100/sq ft to rehab it (around $145k in rehab costs) and the ARV would be around $375k (likely $400 but I want to be a little conservative).

Once you complete the 90 hour course, your status will change to a Broker but you will be on inactive status until you associate yourself with a BIC.Keep in mind that per NC REC Rule 58A .0504(a), "The holder of a license on inactive status shall not engage in any activity requiring a real estate license, including the referral for compensation of a prospective seller, buyer, landlord or tenant to another real estate broker or any other party"Feel free to reach out if you have any other questions.

This should include any Change Orders which were of course signed by both parties, right?

I just want to make sure I am prepared before getting to that part!

Yeah the safe conservative move is to back away.  

I heard about this through a podcast with pace morby Exactly like a subject-too deal. there are some twist that you can add in there, but the important part is to close the deal with a real estate lawyer so that you are covered legally.

I’ve found being better upfront about a zero tolerance policy on noise/parties force limiting number of guests accomplishes about 90% of what I need it to in screening out the cruft, then attaching a higher $800-$1000 deposit further filters those without the means to cover damages if they’re incurred.