A trick question :)

This is a physical asset, not paper, and it's providing consistent income.Albeit for your not understanding tax laws and depreciation, I'm wondering why there's a question as to what you should keep.You understand capital gains, but I'm pretty sure you're not familiar with depreciation and loan paydown.

What specific questions do you have?

Mean while i would be building equity, and if rates do lower, or when the term ends, could refi for better rates and then maybe cash flow.My questions are:Is this too naively optimistic?

Quote from @Ryan Cousins: Quote from @Joe Villeneuve: None of what you mentioned answers your question. 

My Name is Michael Walis I have tons of experience if you have any questions I can help 

My question is: when wholesaling, after finding a great deal, do you need real proof of funds to the get the property under contact or is there a way to get it under contract, find a buyer and complete a double closing/assign the right to sell without actually having the cash for the property? 

@Nichole Wall - when you discover the answer to your question before anybody has a chance to answer, you should post YOUR answer!

I would ask more questions about the terms and qualifications.

I sent him a list of my questions ahead of time which really seemed productive to me.