If his n/w and liquidity was up to par, probably would have tried for Freddie small balance, but ended up getting bank execution.

Look at the sender of the e-mail and go to their website.

If Mike should default, PL's remedy is to foreclose on the collateral (the property) and liquidate it to recover their capital. 

We all need to eat and pay bills today, so there is a lot to be said for cash in hand.I'm personally several years into liquidating my own SD-IRAs and moving the proceeds to High Cash Value Life Insurance. 1.

Thanks @Derrick E.

This is of course all hypothetical of course but here is how the numbers are calculated so you can plug in your real world numbers from your schedule E:  Rental income worksheet

send e mail with your contract to purchase attached. 

- R/E Wholesaling & Investing PrinciplesThe mistake people make when trying to become a Real Estate Wholesalers & Investor, is they become literally brainwashed with the ideas of owning multiple properties, living a life of leisure, or believing success will happen overnight in this business.There are few things I want you to realize if your goal is to become an Investor/Wholesaler.1.

They are not local, and we are e-signing the lease.

Even with the 90% LTC, I still needed to come up with nearly 20k to get into a 75k property after fees and insurance and all that junk, plus since the rehab draws are reimbursements, I needed to come up with the initial 10k for the first draw myself, so that's 30k of liquidity needed for a relatively cheap property.