However, the partnership's or S corporation's separate activities can be regrouped into one activity at the owner level if elected [Reg. 1.469-9(h)(1)].A special rule applies if a taxpayer holds a 50% or more interest in the capital, income, gain, loss, deduction, or credit of a partnership or S corporation at any time during the tax year.

You need to regroup.  

If this contract falls through, the owner wants to take it off the market and re-group.

It looks like it is more of a training seminar rather than a local RE group or meet-up, but might be helpful if just starting out!

Essentially this will give you at least a month to regroup and get this right.     

If we need to regroup and find new ways of remaining relevant and meeting the needs of buyers and sellers, we'll do just that.

If you dont have $20k for example you should absorb as much knowledge via BP forums/podcast/local RE groups while at the same time making/saving extra money.

Id look on facebook for local RE groups, meetup.com/allevents/etc

It looks like by early August I’ll be heading back that way to regroup and potentially find a new market out east to dive into.

Are there any websites other than this one you would recommend for local RE groups or meetups ?