In his markets and at the level his investments fit into that market, there is considerable competition for the available work.

Lifestyle is also a consideration.

For any contract a key element is consideration, there are two issues that apply in holding one to the terms of a contract, those that say give $5 as consideration are only looking at issues at law, but there are equally issues of equity, is the consideration sufficient for the rights extended or in the scope of the dealings anticipated is the considerartion apporopriate, given the risks and rewards afforded under the contract, this is where the $5 down folks fail in giving sufficient consideration.2.

That's why there is the EMD aka (consideration).

Hi Mike NeubauerBuying on terms, whether it be a wrap, sub2, cfd-land contract, lease option all does not matter with the SAFE act, but when you sell alot of properties on terms, the SAFE act applies.See http://www.realtor.org/topics/seller-financing/the-safe-actYOu need to properly underwrite the borrower and the borrower needs the same consideration as a conventional underwriter.Bill Gulley should chime in here.Brian

Remember, however, that there are other things of considerable value that aren't necessarily monetary.

Another quick consideration, if you do replace the roof with another metal roof and decide to stay with the same pitch/slope, go with what they call a Standing Seam Roof.

definitely make use of gov sites to help you provide more insight into areas:census data- zipskinny has some interesting stats based on census- go straight to census site for data- neighborhoodscout is another resource- local gov site may have more stats about neighborhood and demographicsschool district data- find out school districts in the area and look up related local gov website for stats- check out greatschools.com and similar sitespast sold data- the usual: connect w/a realtor- review zillow on past solds for your target property profile- trulia can provide some more insights into areas like zillow doesrental comps- check rentometer- craigslist- local realtorgoogle maps- cash for gold sites, payday sites- affluent supermarkets, restaurants- public transittake into consideration how proximity to certain retail biz or transit can be desirable or influences the local areaNY is a cramped place to evaluate neighborhood on just google map factors listed above alone... i know there are various neighborhoods and depending on what block or side of the tracks, values can go up or down.

Because I held the unit for him, I have time lost and potential rent lost on account of his reversal.Do I have any recourse to keep all or a portion of the security deposit as consideration for the time and lost rent due to him backing out?

A new rehab guy will not be getting this type of consideration having no experience.What you're wanting is some lender to fund everthing, buy the place for you and then let you walk in with no risk or committment other than your signature, that won't ever happen with a real lender, maybe grandma will do it, but not my grandma...LOLwhat I mentioned above is about the only way for a new investor with no assets or cash to use a HML, if they will even do it.