Your post was descriptive and I feel like I was right there by the lake when I was reading it!

I noticed on the schedule C line A requires a description of the 'business or professional activity'.

I'm interested in also wholesaling out of state and not limiting myself to 1 geographic area. 

We rely entirely on Craigslist for advertising, refreshing it when it falls to the bottom fo the lsit, and being very descriptive with photos and features.Seems like this would be a good time to rent, with people getting tax return seed money.

Do you have the original unit condition description of any damages to all the units from the former landlord-- ?.

I've been under many noncompetes in my life,,they aren't simple one paragraph contracts.Many things have to be right for it to actually hold water, I'm mainly familiar with Texas,, here if your not compensated for a non-compete you'll probable get it thrown out,,it has to be reasonable (you can't make it for too long or cover too large a geographical area,,,sometimes it will cover a portion of a city, I've been under two that covered the country, but guess what, it was a very, very small area of expertise, and it wouldn't be any good unless it covered the entire country.Anytime you want to write a contract, go pay an attorney, you don't need anything complicated, but the first thing you need to ask is if you can even accomplish what you want to accomplish under your state's lawsBTW, if people tell you "I live in a right to work state", that has absolutely NOTHING to do with a non-compete, that is dealing with unions, but I often hear people say that related to non-competes

STRIKE ONE.Next I started hitting in all directions trying to get a handle on all the violations - it has a long list, with a bunch of vague descriptions.

I am not as overly concerned as Doug as the geographic concentration or exclusion.

Once you throw in debt services and higher turn over rate in 1 bedroom units, not to mention you have lots of cap ex exposure based in your description you could get really tight.

You may have heard of the 50% rule on the podcast, but here is a quick video description of it.