I come from a background of contractors so its something I feel pretty comfortable facilitating.

Technically, not all lender would approve a DSCR loan for someone who has not owned their primary but there are some lenders who do lend to FTHB a DSCR loan.

The area was up and coming and I have a background in building multifamily.

Getting help from a TAS has definitely helped us in the past on addressing something like the IRS seeming to lose a payment and being unwilling to put the effort into finding it - nothing technically complex about your problem from what you are saying (just a lost payment), but if they aren't helping you, the TAS helps light a fire under them. 

Howdy, There is a lot of background knowledge you should have when first starting out.

For background, only 2 of the 3 partners are on the loan and title.

Now, a lot of wholesalers do not even put up EMD, which is technically a breach of contract, but that aside, let’s continue. 

Hi all, I'm new to the forums and open to feedback/advice on building/investing in Western NC.Some background on me, I've Lived-In rehabbed and made decent returns on 8 houses (lost most of it in a old divorce so in the middle of a restart to try to actually retire in the next 10-15 yrs).

Got it, thanks — so in technical terms, the closing costs are deducted from gains on Schedule D, but since the difference is below the Section 121 threshold, Schedule D essentially ends up at $0 (as opposed to some negative/deductible amount).

Lessons learned is to ALWAYS have capital liquid for fixes and damages in the property and to always background check your tenant as a bank looks through your payment histories to give your the loan same with the tenants our current tenant has not missed a payment in 2.5 years, w/ a stable job and kids.