I have been advised by several people that setting up an LLC would be a good idea as a "safety net". I

Or, Should I just wait and put money in as I close wholesale deals to fatten up the pot for later.I guess I'm confused on what I can do now w/this account to generate a return.?.?.?

That hurts your returns.With a pool, or a big enough pot of your own cash, like your friend, the lumpiness is reduced because a large portion of the cash is invested most of the time.  

Because you have a pot full of them and not one by an owner occupant type deal, you are a vendor and you'll need to comply with the servicing requirements.

I'm going to look at a house today that was farmed out of my direct mail campaign. The seller is the owners daughter and she mentioned she was a realtor. I don't think we are too far off on price but I was thinking th...

With my contract I typically don't negotiate the price aggressively up front, I prefer to appease the sellers desire to met their individual pot of gold, and hold them to a lengthy due diligence period (120-180 days).

They were just watering/fertilizing the pot plants.

will be totally ignored by those who know what they are talking about, I would.You need to do some studying before trying to look at the pot of gold, most of those pots have holes in the bottom.Nothing personal, not blowing off at you, just that you're way in over your head right now and you need to back up, regroup, rethink, study and begin at the beginning. :)

I've read enough posts here now and soul searched myself to have this idea:It seems there's a lot of chicken and egg problems for new RE investors that are looking for experience and future private borrowing.Short version of my idea is put together 9 newbies and 1 pro, all BP members and do a few deals together to build experience and a track record.I'll spare you the details for now but the abbreviated version is $5k each into the pot.

The owners all have to put money in to a pot so that if the roads need work at some point, the work will be done.