Just for clarity, the reason why I am asking this question is not to look down on the majority of population, but rather overcoming one of my doubts with REI.

Lack of clarity about which way to go is a dull axe.  

Color me impressed with the speed and clarity of those responses...

For others in BP Nation wondering about other states, many states have similar wording and similar exemptions Just make sure you have clarity from whatever state's Secretary of State corporations division office.

@Darrin Carey, sorry to go back a few pages here but I do want to give some clarity on your description of assigning a contract.  

Capital Gains are assessed on gains, so you'll not be taxed on the costs of improvements or costs of sale, as that would not be a gain.You may still be able to exchange this property, but you'll gain the needed clarity by speaking with an exchange company.

With all that being said, confusion has set in and I am looking for clarity on: 1) how to go about a "cash" offer as an investor?

To get clarity on what mentor you might be looking for you need clarity on what kind of asset class you might be interested in long term; To get clarity there, you need an understanding of the pros and cons of various asset classes; To understand that you need to understand the variables that go into analyzing properties, and so on. 

Last night I was talking with a friend about how to work with partners, clients, contractors, friends, etc.The best way to get what you want in life, business, and real estate is to ask yourself:"How can I solve a problem for the other party in an ethical, sustainable, and profitable way"If you can answer this question with extreme clarity you'll find that doors open to you, partners appear, and negotiations become about details rather than about the project itselfIf you can't you'll find that you do a lot of "one-time" transactions, burn a lot of bridges, and encounter resistance left and right! 

For clarity for those questioning the numbers...