Their permit will not be transferable when they sell though, according to the draft plan.

I highly suggest getting your feet wet in your local market if possible if you plan to rehab or manage the property yourself.

Provide them proof of your ability to find, fix, flip (or whatever strategy you plan to use), and then start with small amounts of their money.

Any advice would be appreciated.I would first talk to a real estate attorney or a foreclosure attorney to make sure that the way you plan to do things passes muster.

I do plan to consult my real estate attorney who handled the closing but this is his busiest week of the year, so I definitely don’t want to bug him with something that isn’t extremely urgent until after the New Year.

But…he can make the buyer regret it if he doesn’t plan to move it.

I had planned to slowly build an investment portfolio on my own.

Work with a tax professional (preferably a CPA that does tax planning and not someone at H&R Block or TurboTax) to ensure you qualify.

Yeah I was thinking of having the business degree as a backup plan too.

And also, know everything about operating real estate, if you really want to know the risks: business plan, financing structures, ability to execute, market research to vet their underwriting assumptions, how fees can influence investment decisions...3.