I’ve been exploring buy and hold opportunities in my area, and I recently came across a situation I’d like some advice on.I’ve come across a property in my area that I’m very interested in, but I want to make sure I approach the situation the right way.

Just remember that wholesaling is much tougher than all the gurus make it seem to be, but not impossible at all if you create the right systems and understand, when you are new, that you are solving problems, not throwing cash.

If you like the home, area etc, you could refi and pull out the same amount of money.

For example, if paying $1500 or $2800 for a CPA who will advice and help you implement strategies that will lower your taxes by 2x or 3x that price, then that price is good.If you can understand what you are getting from paying that amount and your perceived value of the return, that will help you make the decision.

I reduced my responsibility to only taxes/insurance while the tenant buyer does the maintenance, pays utilities and makes monthly payments to me. 

Make sure the PMgt team documents everything.

Over the years every single time I went over his house to hang out we would talk about money, investing and the future we were building.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

However, my mother has fully paid for the property, making her the rightful owner in practical terms.

I am interested in working with MB capital in getting unsecured line of credit and possibly hard money lending.