On the flip side areas with little to no chance of appreciation (think Baltimore, Detroit, Ohio)  sell for higher cap rates...You are about a decade behind reality to pretend that Appreciation is low in Detroit area.

Hi Steve,Again I'm new to this, not trying to pretend otherwise, so not sure your superior attitude is all that helpful.Anyway, the income tax advantage I was referring to (again, not sure that this is the case, I'm still going to consult a CPA) is related to social security tax savings spelled out on the Dealmakerlibrary website that I can't link to but google can find for you called Which Entity is Best for Flipping Properties?

Since this is a small property, there obviously won't be an office you can go visit, and you're probably going to have to pretend to be a potential renter.  

The difference perhaps is that I am a businessman and I realize the costs of being compliant and legal are worth the cost when measured against the potential risks as opposed to pretending the risk does not exist.

I won't even pretend to know other markets outside of Killeen but I know this market incredibly well.  

I don't have experience with that situation, but I have heard of the craigslist scam of people pretending to be "property managers" and leasing out properties that they do not actually have ownership or rights to.

It takes the weight off your shoulders of pretending to be the actual end buyer.

Pretend you are a dentist or whatever type of tenant.

I don't pretend to be able to predict the future as to property values.

As a wholesaler I don't pretend I'm buying their property, I let them know "my investors" are buying the property & I'm just here to possibly agree to a contract.If you can put the property under contract, take tons & tons of photos & market the contract.