Here on north side Chicago I even have out of state clients self managing.

In fact, one of my clients last year closed on a house hack near Keystone and turned a 5 bedroom single family home into a 6 bedroom house, and he is living in one room and renting out the 5 other rooms individually between $1,300-$1,400 per month per room because of the lack of affordable housing options up there. 

Have a client interested there as well as myself and just wondering how it's going! 

In most case when I have clients putting 25% they will be cash flowing, a lot of that has to do with looking at things a bit differently.

It may be beneficial to defer implementing the cost seg if you are anticipating your rental classification may change.Consult a tax professional to tailor the strategy based on your long-term investment and income goals.This post does not create a CPA-Client relationship.

Relationships are key -this off-market deal was found through a longtime realtor friend and my last seller financed deal was through a landlord/client I worked with for several years. 

I'm currently going through this with one of my clients.

However, when the new owner sells, they will owe capital gains tax based on their share of the basis.Given the complexity and IRS scrutiny of 1031 exchanges and drop-and-swap strategies, consult a CPA or attorney specializing in partnership taxation to ensure compliance and maximize tax savings.This post does not create a CPA-Client relationship.

Your "clients" will disproportionately be elderly people who you will be taught to "help" - somehow you convincing them not to take market value by listing their home, or selling it subject-to, is "help".- In between finding these "clients" you "help solve a problem for" (in the language of the gurus), you will be angrily dismissed by hundreds or thousands of people, if you are able to get into contact with them. - In the extremely unlikely event that you get a property under contract, your assignment fee, in many locations, and probably on average, will be less than the commission a licensed broker would have received for selling the property. - You will be at risk of breaking the law, as many states are creating laws that effectively ban wholesaling, and while wholesaling gurus claim that this is not the case, they are either lying or deluded.

And, it's amazing how many closing costs are junk fees that we as investors need to pushback on paying for ourselves and our clients.