Managing capital: human and monetary and trying to make the most profitable decisions possible.

That should only be true if you are classified a real estate professional or a "dealer" for IRS purposes.

The owner is a car salesman/dealer and has 6 rentals.

Are you with Habitat for Humanity?

I have a buyer for this vacant building.Buyer sends out contractor to look at the inside.Security guard says he can't come in to look.I call seller and he does not have any security out there.Talked to asset manager at the bank and they have not foreclosed on the property.Sometimes the asset manager said the city of Atlanta will secure a property to keep crime out but she thinks it is drug dealers as well.

Chris,There is one good reason that I was told to avoid flipping in personal name - to not be labeled as "dealer" status.

I have heard as few as three deals can label you as a dealer.

Here is the good part....Bank of America donated it Habitat for Humanity.

If you google it Im sure yo can find a dealer in your area.

Avi, there is a lot to know about when it comes to rehabbing but I will cover a few of the most basic mistakes new rehabbers make, although it sounds like you have some real estate investing experience so hopefully you can avoid these:1) Overestimating ARV (after repair value): it is human nature to be optimistic and look at the best case scenario, but you have to be realistic when analyzing the end sale price of a property.