https://www.amazon.com/FLIP-Find-Sell-Houses-Profit/dp/0071486100If your unsure and your paying for the work to be done this book will give you a good general idea on what order to do things to save money and excess appointments from the same trade.

In an ideal situation, you and your aunt would each pay back your fair share to your grandmother or each other. i.e. each of you share X% of your sale profits to your Grandma OR you and your aunt split the past expenses (taxes, other holding costs, renovation, expenses, etc.) with your grandmother and pay her back. 

As far as the home, if you have lived in it for at least 2 out of the previous 5 years you will be able to sell it and take the first $250K of profit tax free.

Wholesaling is just like any other business; it takes time to build systems and processes to run a profitable operation.

You receive all the profits - but are also responsible for any failures you may run into.

Profits aren't somehow ridiculously high, but our average cash on cash return is >23% across the portfolio.  

It was obvious he valued the upfront fee more than the potential of a real partnership where we could collectively earn substantial profits (hundreds of thousands of dollars vs 10k) in a matter of weeks.

• Some are saying a condo isn't a bad purchase as well - it would require more patience but through appreciation I could net some profit or at the very least gain equity instead of paying rent.

I was able to build a small team, but have struggled to see profitable gain in my situation.Cool to hear you actually went over and introduced yourself to boots on the ground in that market.

Do you prefer flipping for a quick profit, or do you take a more long-term approach with rentals?