I am renting a 2 br condo and bought a house that I am attempting to "house hack" with short term, airBNB renters.

If you do not have that experience and knowledge and attempt to boss handymen and contractors around, it doesn't go well.

I remember when I first moved there I didn't have a parking spot and I would usually walk 7 blocks away simply because there was no spot for me to park.I thought it was merely a cash grab for the cities, and an attempt to regulate properties that fall in disrepair, since a lot of the cities have inspections of the rentals too.Or in my case, it says right on the form, that its for municipal tax purposes.One of the really nice neighborhoods in Salt Lake City has a house that they rent to six different people and all the cars there is a sight to behold, I personally wouldn't want that in my neighborhood either.

I know that if I don't oversee and drive the project forward, that out-of-state client would not be attempting to flip or BRRRR that property with me ... they wouldn't know who to turn to and I'd end up missing out on multiple deals. 

As a carpet layer I am sacrificing my body( I have knee and back issues) to provide the service you request.

That's all wholesaling is, it's brokering real estate except instead of being up front & telling the distressed seller that you'll sell their property for X amount & take X amount as your commission / fee you are taught to lie to the seller & pretend you are going to buy the property while you secretly attempt to "assign" your contract.It doesn't work.

The fact that there isn't much case law provides more security than having a large body of case law behind it, in my opinion - it shows that the laws surrounding the entity are clearly stated and people aren't willing to try attack the structure.

My agent is also a successful investor and am attempting to follow a similar path.

Hi @Nathan Hui -The IRR can be a bit of a beast to wrap your head around at first ... here's a video I shot a couple years ago trying to explain it in practical terms - not sure how well I did, but it's an attempt :)  https://www.youtube.com/watch?

You can make small upgrades (painting walls, staining banisters, replacing carpet, etc.) yourself and after a year rent out the whole place for $1300 or attempt to continue to rent by the room for higher cashflow and buy another one with the same process.