Don,  the other thing I see is that wholesalers are one and done.. there is no real referral or repeat bizz with sellers and without sellers there is no bizz.. 

Good to see it isn't affecting you much.

Used that cash to put a down payment on another home and then….Repeat!!!

@KiKi Wood that's it, that's the different between being able to scale with repeatable, consistent processes and systems vs getting overwhelmed and overloaded due to non-repeatable business processes.

Pace said repeatedly that he only does deals with his own community (and apparently you can get bonuses for referring new members) which infuses new capital into the community continuously.  

@Gustavo Alvarez is see there are other lenders that have responded to you and have provide a general overview that I agree with so I won't repeat. 

Once you own that for a year you can move out of it and rent all the units and move into another one and repeat the process.  

How many times do you need to repeat a skill to be considered a master of the art?

This sounds like a thoughtful plan, but there are a few things to keep in mind.First, while you won’t be on the mortgage, you'll still be co-owner, meaning if things go south (like he defaults), the bank could come after the property, which affects your investment.

Depending on the facts and circumstances of the agreement, it could either be treated either1) the sale occurs as of the original agreement date, and then your taxable gain is generally spread out over the life of the principal payments as an installment sale (although I should mention any depreciation you've taken on your property could affect this), or2) the sale does not occur until the lease option is exercised, and gain reported at that time.