If a wholesaler can still profit while provided “full disclosure” and adhering to the rules and regulations of real estate licensees then they’ve earned their profit.   

I am guessing you like the numbers you see in Strawberry Mansion and Norristown (Montco not Philly) but do you know for a fact that at those numbers, you can do a full gut rehab and be at a number that will allow you to profit, and along the way make some sizable mistakes especially if this is your first project . . . 

Take the full sales amount “IF” you don’t have time or equity buildup to do the 2 year primary.  1031 into a MFH.  

Unfortunately, I did not know the full extent of what I have later come to hear and learn.

However, can I say that I gave a rebate to myself on that transaction for the full RE Agent Commission amount and decrease the cost basis of my house accordingly?

Most hard money will be interest only payments on the full approved balance of the loan whether or not if you have pull the draw funds for repairs.If you have any other questions, post them in the same thread below so that we can all learn from the answers.

Zara--this is quite necessary and in full compliance with Federal and State statutes. 

This will increase the return above what can be obtained on a passive investment.The flipside of having the power to control everything is that it can be alot of work (and a full-time job if a person is putting in sweat equity).

Please consider the following:- Monthly savings: ~$4-5k- Full time job: Traveling and always relocating- No real estate currently ownedMy wife and I have long term goals to live on a remote ranch and would like to use real estate investing as a means to get there.

There are many excluded, niche groups (beyond the scope of this post), but here are the ones that you could fall under:Large Businesses20+ FULL TIME W2 US based employees; ANDU.S.