That does not sound ready to crash to me, based on historical patterns for the yellow metal.

Schiff is one bright dude (he predicted the real estate crash), and he doesn't paint a rosy picture of our economic future - unless the government drastically changes course from it's borrow/spending binge in the near future.

Still, should I worry about any zoning laws for running what's basically a lodging house/"Crash pad"???

Sometimes your 45 cents on the dollar home runs can get out of control real quick when you've gotta put new copper in every two weeks and deal with the junkies that think they've found a new crash pad.

I *think* that you can apply your losses towards future earnings as tax deductions... so you might be OK if you consider the $80K loss as a way to reduce your tax obligations over the next 5-10 years.You should research what you can do with that loss and/or speak with a CPA for the correct answer... but I think it is possible, I know someone still doing it with stock market losses incurred during the crash of 2000.

That's what we were doing all of 2006, 2007, and 2008 when everyone else I talked to was investing in the stock market that was about to crash.

Its a good read and will essentially give you a crash course on one of the main staples of a wholesalers business which is finding buyers for properties you put under contract.In fact, the entire wholesaling forum would be of great educational value to you if you are a newbie.IMHO @ a very high level your wholesaling business should look like this...1) Market for wholesale properties.

My plans was to never be a landlord until the market crashed & I got laid off.

Moreover was feeling responsible, as the crash was timed almost perfectly with my deciding to purchase a Pro Basic account.

I have all sorts of unpleasant chores, etc that I have to do at all my properties, if I can't handle that then I should do something else, right?