Recently a patient of my father's offered to get him involved in flipping, however it turned out the time involved was too much, instead the offered deferred to me.

They can be slow to respond, so be patient.

Even with his help, it would take at least a year (probably two) to get something set up that would allow me to pool non-acredited investors.If you stick with acredited investors or, better yet, sophisticated investors, you can get going faster since the SEC assumes that those investors know enough to protect themselves.As John pointed out, if I go that route, don't expect to hear much from me about it.Aside from all the set up, there is a lot of paper that needs to be generated, stored. reported and audited just to prove that you aren't cheating a 90 year old alzheimers patient out of her life's savings.

So if the opportuninty presents its self I'm ready to go.I'm going to build a career out of RE, I'm just being patient at the moment.

In all cases what I've done first is send them a letter stating what I will do and that while I may not get any money as a result of reporting the forgiven debt as income, I'll have the satisfaction of knowing that they'll now owe a % of that money to an agency of the government that:Never forgets,Never forgives,Is relentless in collecting,and that the debt to the IRS is NOT forgiveable in bankruptcy.I've got a very high collection rate on those letters.

I always refer my clients to Lexington Law Firm they are inexpensive and they get results if you are patient.

He was patient with my initial negative reactions that were mostly based on fear.

How are you addressing the “satisfaction guaranteed” portion?

Please just be patient and bear with us as we work to resolve this issue.Thank you for your understanding.

That is why I mentioned true commercial lenders that provide 'Non-recourse' loans where the only satisfaction of the loan is the property itself and there is no other recourse available to the lender.