Rod,, As for anti wholesaling being a commie plot of the RE brokers can't agree with that one..

Could be good advice, but there's a lot more to consider when making such a decision, obviously.So is this anti-real estate mentality a result of lack of understanding, or seeing other clients' lack of success in REI?

If it was me personally, I would go the same route as @Walker Seid however I am very anti-401k's so my opinion may be biased!

Incidentally;  a substantial part of my anti pet stance is that I ate, hate, HATE the smell of dog and cat poop and pee.

A New Beginning in Government Control The Financial Crimes Enforcement Network, known as “FinCEN,” has required nonbank mortgage lenders and originators to implement an Anti-Money Laundering program (“AML Program”) and file Suspicious Activity Reports (“SARs”) for certain loan transactions. § FinCEN is establishing this AML program in accordance with the Bank Secrecy Act (“BSA”) § The guidelines relating to the AML requirement become effective on April 16, 2012, and the AML Program’s effective compliance date is August 13, 2012. § The AML program and SAR filing regulations are considered to be “the first step in an incremental approach to implementation of regulations for the broad loan or finance company category of financial institutions.” 4 § The Bank Secrecy Act defines the term "financial institution" to include, in part, a loan or finance company.

In other states, home/rent value going up means your property taxes also go up in proportion, so if it's not 2% on day one than it'll never be 2%, because rents going up 10% might mean prop taxes also go up 10% (or maybe it'll go up 15% because the elected tax assessor is anti-landlord, who knows).Here, people will often buy using 1% and just chill while Prop 13 does its magic.

Maybe scrub it with mold stuff and apply anti mold spray?

That is saying something given the "anti-guru" sentiment of Bigger Pockets.  

Oregon and Washington have very strong anti equity skimming laws and what you can and cannot do with someone in foreclosure.Suggest you read those statutes before en barking on this path.that said people break the law EVERY day  doing this..

Anti money laundering and terrorist financing is one area where most regulators around the country have issued guidance.