(Turning it in to a rental makes those gains taxable and will probably take a decade just to break even on taxes.)2) This is the ideal rental you would buy if you had the cash in hand instead of this home?

**Create a Plan** - Break down goals into manageable steps

I'm in Austin but I'd love to help break the ice any way I can.

I don't think we should ban all wholesalers just because some are scammers, criminals, and idiots. market will weed out idiots, and criminals who break the law should be prosecuted by gov.

When you write up your profit and loss statement, how do you break down the mortgage?

As the population continues to grow and more high income earners move here to work at Toyota, Boom, etc. the average purchase price will continue to rise making it even more difficult for first time buyers to break into the market.

here's what i personally am doing.  2 things.1. i will BRRRR something that breaks even on rent IF i can force a huge gain in equity.  2. i'm looking for seller finance deals. 

(You must complete the sale before 3 years passes from your move out date, so it can’t be a rental for 3 years.)So…If you have a large capital gain that will become taxable when their lease expires (both federal and state income tax) you pretty much have to sell before that date or not for at least 10 years just to break even with selling now. 

If you seriously want to clean this up and are willing to take a risk, I would absolutely switch things into my name and begin taking care of the property as my own...it takes up to 10 years, but if you'd be willing to start caring for the property and were able to at least rent as a break even, pay taxes etc, then it's no big loss if the owner came back and stopped your claim.

A bidding war will break out and you’ll get $1.05.