Real wholesaling is buying something in bulk and or for a middleman’s price and then reselling at a retail price.

You buy a property at a discount, do minimal work (if any), and then resell it quickly for a profit.

Unless he personally buys each property and owns them then resells them .. then no licensed required of course..

I will resell the property.

A good deal is a good deal, however with that said you also have to resell the property so you have to be in a place where people have money, access to credit, and want to live.   

Remediate--you will have liability if you do not on the rent or resell. 

The area I'm in is pretty rural and the majority of agents here have been in the business for decades; they don't seem to "get" the business of STRs or rehab/reselling homes.

As long as you meet your reinvestment requirements it doesn't matter how you allocate the proceeds.Now (now not needed) In your case if you"re selling for $800k (after closing costs and commissions) and maybe you decide you would like to purchase two properties for $400k.

We will put about $2,000 into cosmetic updates and plan to resell it for $160,000-$175,000 What made you interested in investing in this type of deal?

Should I be paying sales tax to sub contractors as owner builder, so use reseller certificate and then collect tax from ME.