Its going to be much more interesting and will whet his appetite into wanting to put it into practice.

Hi Iris,Selling a property to a bigger wholesaler is common practice.  

I haven't done any real deals yet but have been using it to practice with pro formas so I can better understand the numbers.

So a lot of people are telling me that a great way to start investing and practice land lording is to own a duplex and rent the other half out but people are making it seem like you can get free rent out of doing so...

I'm aware that other brokers make similar deals, so you need to check on recourse agreements to ensure a broker can buy back a note, I'd say PPR can simply because I've not heard a bad word about them or Dave, my comment is more to the practice of substation of notes as well as notes with agreements for the substitution of collateral; collateral should never be substituted without consent on an investor or holder.I'm pretty sure Dave or PPR will assist in securing collateral, that may not mean they cover the costs of a trustee or sale, don't know, but I've not heard of no risk investing in notes. :) 

I know you can't get it in the forums, wish we could.Finance is an art and a science, the science is pretty easy, the art is difficult and being compliant practicing the art compounds the difficulty.

Dont sidestep good practices and get in a hurry.

Hey, you never know, maybe I will get the itch to practice :)Tammy

Listening to podcasts and reading articles, etc. it's clear that investing in real estate while simultaneously holding a full-time job is possible and common.

This is the main reason S corporations have been, and remain, popular with professionals.Example: Mel forms an LLC to operate his accounting practice and elects to have it taxed as an S Corporation.