Has anyone heard of this concept and is it true?

Can you just transfer it by doing a general journal entry?

I feel that you have to have proof of concept, not only in theory but also to build the confidence first on your own.  

Here is an article from the most recent Indianapolis Business Journal on the developments in the Herron-Morton neighborhood.Downtown Boom Hits Herron-Morton

Wholesaling is definitely not as prevalent in Canada and there are certainly not as many foreclosures / bank owned homes as the USA As for flipping, strategies those can be fairly similar such as the 70% ruleTaxes and legal stuff is different as well The concepts are similar and the strategies can also be similar

The flipping concept doesn't really happen because you're supposed to live in it for a certain amount of time.

Years ago I was a property and casualty underwriter for a major insurance company and learned that a number of people get the concept of insurance backwards.

So I am (in the car business we call it) "as green as green gets" to real estate investing and I am trying so hard to wrap my head around so many concepts and trying to sort through all the things that I feel like I need to remember before I take the jump. 

Nor is being a Wholesaler any less ethical than being a Realtor, in concept.

I currently buy and sell cars for extra money (buy below blue book, do value added repairs, sell at blue book value) and would like to start applying some of these concepts to real estate.