You will be taxed at your marginal tax rate.Best bet: Consult your CPA and try to not do you taxes yourself.

I bet she has an order of protection against him. 

Right now capital is at a minimum and I’m improving credit so while I start saving money and networking with other investors, I’ve decided that whole-selling is probably my best bet to get a little extra cash in the bank account before I go buy a hold property.Anyway, I’m curious on a few things:What’s an average wholesale fee in California?

yea thats a good bet...  

Never bet on appreciation.

Not sure what your payback will be if you rehab, but if tenants come and go, I bet they will be content with clean, functional and fresh paint in a light color.

Aka any investment here, within reason, can be a safe bet. 

Dont bet on the market, bet on a variable you can control like property management, proper maintenance, well screened tenants, etc.

Mine is 15.92% IRR while you indicated Frank gets 16.17% IRR.It's not that far off and I bet the numbers are a little different because Frank maybe adjusting the Closing Costs a little bit down because the Price is lower.

After the PMI drops, I'd cash flow only 140 per month (again after all expenditures).I know I can't bet on appreciation, but am I wrong in thinking it could be a good idea to hang onto this place for a bit?