If done properly, wholesaling is legal in all 50 states.The improtant thing is to make sure you have equitable interest in the property (which from what I understand can include having a contract to purchase in place).

We understand that we'll not hit homeruns on every deal, and this is just a part of the business. 

He has a chapter specifically for real estate - this will get you to understand what options you have and why putting something in place is so important.2) Yes, once you set up an LLC or LP to hold the property, I would set up a business bank account and deposit all rent checks, plus pay out all expenses from that account.

I will look into them a little deeper for a better understanding. 

Based upon my understanding of how the dreaded "black mold" called Stachybotrys develops and the patterns it forms on surfaces, the majority of the mold depicted does not appear to be Stachybotrys.

You might have to ask around or guess insurance costs, or you could call a insurance company and tell them you're just trying to get a basic idea for research (so they understand that you don't need a full-on quote).

Another thought...call the agent and find out WHY the DOM are so high...understand the reasons why this property hasn't sold before you go further.

I understand where you are coming from.

See the rules for yourself:https://www.irs.gov/retirement-plans/plan-particip...I understand that this is probably not what you want to hear and you will hear all kinds of answers on the internet, but please be aware of the risk having your IRA, your wife's IRA and your mother's IRA disqualified. 

People need to understand that the allowance doesn’t necessarily equate to how much you spend.