You may want to read up on wholesaling as a way to generate some capital.

It’s always exciting to connect with someone diving into long-term and mid-term rentals too.This is a great place to network and learn.

One of the things I learned early is that the margins on a deal need to be substantial. 

I met with Wicked Smart today and was told they help you set up a lead sourcing system, help you structure creative financing - which is essentially lease option/purchase, subject to and owner financing....all strategies I am interested in learning more about.

You will be taxed on way more than $150k, and also this $150k number is totally irrelevant for the tax calculation anyway.

I know that finding a team is crucial, and not sure where to begin on this. 

What I am saying is the tax bill for you could be wildly different depending on how long your partner has owned this property and how much depreciation they have taken.  

[Click the image to see full size.]Real estate investing is for achieving financial independence.

My experience has been that most lenders don’t immediately move on this, many don’t take action for 6 - 12 months.  

It also means you don't have to learn two different ways of doing things.