We plan to deduct 1/5 of the total ($2444.80) on the Schedule E for each 1-BR unit.

@Noah EhlerNice job thinking ahead.

I recommend working hard to find a way to turn that one into a rental.Sit down and work out the numbers with your wife, talk through what things will look like 5-10 years out as the house appreciates, rent increases and your job pays more.

Wow you did a great job on the rehab!

He has a good job lined up but won’t get the offer letter until May.This is a 20+ year veteran with plenty of savings and a solid financial plan. 

I have other investments and savings that I don't want to touch.I planned on staying employed at my current job and my husband would keep his current business until we feel we have a handle on the new business and start working towards growth.

This entire process demands a good deal of time commitment, from staging your home to aligning with potential buyers' schedules. 

I have a full time job and even with that I was able to get 3 deals this year... working on the 4th one.

When you wholesale and in general the key to being a great real estate investor is being able to find great deals and distressed properties is where to look: financial dirstress being in preforeclosure or underwater on their mortgage, personal distress death in family, loss of a job, or divorce, or poor property condition.

When do people typically "ditch" their jobs?