Its always been illegal from the state regulators view it violates the Real estate sales laws of brokering RE with no license.. the definition of brokering RE is to bring two parties together for compensation exactly what wholesalers do.. but without a valid license or listing agreement. 

definitely pick a place where you can maximize your income, where you'll enjoy living or have strong ties, and where you can house hack.  

Definitely let us know how everything goes. 

Nope, and that's not the definition of equity.

It was definitely his fault, but I have to own up that my due diligence was pretty non existent.I should have flown down and inspected the deal, and his other deals.

Sure thing Jaden, BP is definitely the best place to be for learning about real estate investing.

Love hearing about your experience, especially with 21+ years in the game—definitely a wealth of knowledge there!

- DM us for one.5) You will definitely want to use a title company familiar with rental property transactions. - We recommend Michigan Investment Title in Romeo.

Using too much leverage is a dangerous though, so definitely a good idea to consider all options.

I took a business course in which he discussed negotiation, and in the process of that, found 2 great parties willing to pay the listed price for what they were asking for in a property/ location/ price/ decor.I actually remodeled in that specific area and rented because as a renter myself, there was nothing in that value / price point so definitely knew it was not ownership bias.