As Michael mentioned you just need to respond to the IRS and state this is what you're doing.

While this is a prudent approach in many financial decisions, real estate does not allow for the same level of deliberation.

This means with my numbers it will be cash negative.how will this help you scale to 3 to 4 deals a year to get to 20 deals?  

I would say the biggest thing is to find an investor-friendly realtor to connect with and try to help you find off-market deals. 

All of which nothing will help him because the loan is still in his name. 

Depending on the fee schedule and activity this can cost significant transaction fees and always includes some red tape and extra processes to go through.

(5) use of “generic” documents as opposed to documents drawn to fullfill specific situations?

So the relationships that I build today as a 36 year old will help me to become one of these developers that I aspire to be when I'm up there in my 50s and 60s.Thanks for the perspective.

However, there is a specific deal Which I find hard to understand the ARV for.It is a Single Family Home, 2 Bedroom 1 Bathroom, 850 SQFT.These two comps have a price gap I find hard to understand, even when considering the difference in renovation level.If anyone knows this market well enough to understand the cause of this difference, and if it might be due to an issue with the location, or if there is anything I am missing.Comp 1 - 1011 Elm Street, Burlington, NC, 27217 (120K)Comp 2 - 1109 Walnut Street, Burlington, NC, 27217 (120K)Comp 3 - 1505 N Park Ave, Burlington, NC, 27217 (180K)Thank you!

:)I am sure this is a solvable issue with some work.