Even though it's possible to wholesale commercial assets (we do a few of these every year), the sellers and buyers are usually more sophisticated.

I like VRBO because it usually has an older and more sophisticated clientele - customer service is pretty good too. 

I promise you we don't all hang out in dark alleys :)506(b)s can accept an unlimited number of accredited and up to 35 sophisticated investors.

This would effectively end the ability for accredited or sophisticated investors of using IRA funds to invest in private syndications.

@Stephen Jones, there are a lot of expenses missing: interest expense, management fees, leasing commissions, payroll, vacancy reserve and Capex are the big ones I can name now.  

@Martin Yanez Jr. 10+ years of experience + a complex software auto linked to Home Depot that also runs financial reports by line item + Project managers on staff with 50+ years of experience + foreman + on payroll general labor so you can control quality and cost = accurate and timely rehab quotes

@Vincent S.There are two credentials that most sophisticated tax professionals have.CPA(Certified Public Accountant) & EA(Enrolled Agent).CPA designation is the more prestigious of the two.There is no designation to indicate that he/she is a professional is 'real estate tax'.I would have a casual conversation with the purchases that you made and how the rental is performing. 

And I assume they factor payroll using their inhouse property management co. but I agree I'd probably 2-3x that. 

I am also looking to move to another career, as I am currently in a commission-only sales job and have not made the amount of money I had anticipated, due to supply chain and payroll delays (needing to wait 4-6 months to get paid on my sales).

Operating expenses can make or break a deal and they should be verified by the sponsor’s property management company (or multiple PMs).Example: We are currently underwriting to higher payroll costs.