As said in other posts in this thread, many people surviving on lower incomes have a different perspective on life than people from the middle-middle class to upper-middle class.  If

@Kevin Siedlecki and @John ThedfordFYI - some states it is considered a discrimination as it is a protected class.  If

Both of these classifications work great for potential creative financing deals.

http://www.biggerpockets.com/renewsblog/2009/03/04/wholesale-transactions-avoiding-dealer-classification/ http://www.biggerpockets.com/forums/109/topics/28518-best-wholesale-entity- http://www.biggerpockets.com/forums/109/topics/28744-rehabber-and-wholesaler-

Then, the benefits were taken over that accelerated time for each classification.

You might be confusing the protections of an LLC with that of a Sole Proprietorship; that is a different classification of legal entity that is established for one person but does not separate the owner's personal liability from that of the business.

In general, the ones to avoid are the ones that: Don't allow financing or a finance contingency (it can be a good indication they are selling above market value) Don't allow for your own independent property inspection Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors) Require you to pay for any renovation upfront Sell only in cheap. low end neighborhoods Don't accurately represent the neighborhood/property classification Don't have consistent rehab standards for all properties Don't provide a scope of work for the property Can't provide references of repeat investors Require you to close before a tenant is in place

After I received my employee identification number, I was told that if I want to, I have the option of filing form 8832 "Entity Classification Election" and elect to be classified as an organization taxable as a corporation.

I will be in Austin July 26-28 for the dealer's license class. If

Source of income is a protected class.  If