Ive been a visitor to the forums for months, reading tons of posts and finally decided to sign up and make an account.  

I have been looking in the area I want to purchase in and have found some suitable houses.

@Logan Hicks, At $150k someone might be able to suggest a suitable Lender to you. 

If you had sought out professional investment advice in regards to the effects of taxation on your investment from a suitably qualified CPA then you would probably not be having this problem.I hope other investors who read this thread appreciate the complexity the taxation implications can be on an investment and seek independent advice before purchasing/investing.

Hi Guys,Almost the end of my first year wholesaling in Jacksonville, FL, so I'm looking ahead for a CPA who's not only investor friendly, but also "International Investor Friendly".I'd prefer recommendations from members on BP, over a "Google Search and call" scenario, as in my own experience, word of mouth usually targets a more suitable person or company.So fire away please - I'd be very pleased to hear from anyone if you know of a reputable, reliable, CPA in the Jax area!

Hi Guys,Almost the end of my first year wholesaling in Jacksonville, FL, so I'm looking ahead for a CPA who's not only investor friendly, but also "International Investor Friendly".I'd prefer recommendations from members on BP, over a basic "Google Search", as - in my experience - word of mouth usually targets a more suitable person or company.So fire away please - I'd be very pleased to hear from anyone if you know of a reputable, reliable, CPA in the Jax area!

I'd probably take the money you saved from none payment of rent and find a more suitable place for you and your family.  

I am a local real estate agent and work with investors in the area to help them find suitable properties for their portfolios, including being a registered HUD agent with access to many distressed properties.

It is suggested by the seller that I send $1,000 earnest money and then determine a suitable title company for closing.  

Also can you find a suitable replacement property throwing off the same cash flow or better in just as nice of a location?