I have another question-does anyone have experience/knowledge to the concept of setting your business LLC up in Nevada vs. the state you reside in? 

This is a concept many do not seem to grasp or think of when approaching someone.I used to have a bunch of agents at my firm but I got rid of all of them.

I think you'll find it to be a lot simpler than it seems.

My math or my undestanding of a concept is off.

I've had one since I was in my late 20's.I had to explain the concept of "leverage" to a friend recently.

:)We're closing on our second Milwaukee property next week, and it's about three doors down from the first.Our second deal is pretty thin also, but it will be a *much* simpler rehab.

So, cash flow is:cash flow = rent - (50% * rent) - P&I payment Second, you mixing two concepts together in an unusual way.

The property types don't really matter- it's the concept.

This concept is why investors who use contracts giving ten dollars as consideration fail to acquire a financial interest that is significant to the value of the property and circumstances.

I'm not a fan of most people's concept of "wholesaling".