However, if you intend to hold the property long-term or plan to pass it down to the next generation, you may want a smaller land value with a higher value to depreciable property since you won’t trigger a gain.

I have had decent success with it, but it's a matter of consistency (keep mailing the list forever) and follow up once you do generate some leads.

But I have been intrigued lately with the concept of wholesaling and was thinking I may try and send out a bulk mailing to hopefully generate some leads. 

Many have two or three generations in one household, pets, home businesses or multiple odd side gigs and second jobs—many have little to no credit because they use cash, have not been in the us long, or are undocumented.

You also have the commissions paycheck too so you are generating multiple income streams from this niche.

My version of the new truck was about to be a new stereo lol so thanks for sharing that.I think I'm going to make some adjustments to my plan, and I still have some time before the sale closes to work out the details, but I think my takeaway's so far are:- Keep the profit separate and make sure it's only use is to generate more profit.

Considering the scenario where two investors are buying a new MF property together (lets say for $1M) and one of them (lets call him ‘investor A’) is using 1031 exchange proceeds from a property sale of $500K that will generate a total net amount of $100K.

Hi @John Ibbits, and congrats on recognizing the value of real estate as a wealth generation engine. 

If we have a unit that can generate close to market value rent, but is not updated or a place we would want to live in ourselves then we have to consider the quality of resident that will live there.

Main items of concern:Lease set up: Business to owner, specific items to include - boiler plate or company that can generate for a feeLiability issues and insuranceADA requirements: the owner had stated only required depending on what tenants live in the facility- carbon/smoke alarms - no ramps, etc (seems fishy as in construction rules on ADA are stringent)As the owner do I need any short of license?