If you're classified as a real estate pro, your rental income could be considered "active," which means self-employment taxes. 

Each informed me of the need for a permit for any repairs, upgrades or modifications which would be then bring the record current and re-classify the property as a 3 BR.  

I'm not saying wholesalers don't need a license, but direct mail campaigns, signage, print & classified advertising, etc are all public facing.  

What stopped me from purchasing the facility was the same issue that Tim is running into...They couldn't be classified as real estate since they weren't attached to the ground.

No Jay, you're not a private lender, you're a lender using your money, you would be classified as a hard money lender.Private lending is set out in banking and SEC regulations.

Get to KNOW the local market, go to open houses, scour classifieds, etc.

Even if you paid all cash, with closing costs and rehab, that’s only maybe a 4% annual return, so I would classify it as a pure flip.

From an IRS standpoint, it is important to realize that his activity and intent is not classified as an investment.

@Brian Daly In my area we have an online classifieds site that has been around longer than Craigslist.

When cold calling what you're wanting are adults to answer the telephone and who "Want" to answer the telephone...So go get a newspaper and open it up to the classified section of Cars for Sale...