Quote from @Luis Maza: Hi all, returning to the game this year and would like to pick your brain a bit, we started working with a wholesaler that will send us properties here and there with the "wholesale" price, but every time we check the properties and add the numbers, the margins are, well, I am not sure, too low perhaps, maybe we are getting to picky, but this is my dilemma for example...Today we got a property, wholesale price 300K, rehab about 50-60K, ARV is about 440k, but with the cost of hard money, we have about 100k cash, hard money interest at 11%, keeping the property for 90 days while we finish the rehab, closing costs,  commissions, we ended with 30k profit before taxes, while it sounds appealing, adding up all expenses and cost we ended up expending 50K on rehab(labor/materials) and about 50-60K with cost of the loan, interest, commissions, etc, everyone makes money, happy with that, but it seems that we are working to produce a 100k for everyone else, while we make 20-30k if everything goes well...In my opinion, we are not really getting "wholesale" price, it seems that we either buying to expensive, rehabs are much more than we would like to spend and the cost of borrowing that money is too high...We came up with thoughts as: lets fund it ourselves with money from a close friend/partner that we will bring in, and that would save us 10-15k here and there, but still, is that the norm now?

For cold calling I would like them to speak clear English and not obviously sound like an out of the country call center.

It sounds pretty through so far man!

Trying to hack the system doesn't sound like a good idea.

I think my partner and I may be exploring a complicated solution - glad to hear that it sounds like one exists!

The simplest thing to do (at the risk of sounding like I'm teaching how to cheat) is to check the "material participation" box when entering a K1 into your tax software.

Quote from @Arvand Sabetian: I think most others have already provided sound advice.I wanted to emphasis having a conversation with your tenants about the septic tank, not just a clause in the lease that you assume they'll read and understand.Many people are unaware of what they can be doing that causes issues to septic tanks (e.g., flushing the wrong items).Also, make sure you do a walkthrough yourself prior to filling the unit.

Seems like a great way to create a legacy for your family.If anyone has actually don't a deal: Does this sound like your experience? 

Sounds like a good deal and you must be handy to have done all that work.

Take BP for instance - your profile is brand new and it's not filled out so you may get some ok answers here, but not the best because people don't really know who they are talking to other than it sounds like you are trying to do your first syndication.