We purchased the house about 3 months ago and are owner financing it.

It allows you, the wholesaler, to transfer your rights to purchase the property to an investor.

@James Boreno You’ll likely owe taxes, but don’t forget to account for your adjusted cost basis, which factors in the original purchase price, depreciation over 10 years, and any capital improvements.

My question is do I go forward with purchasing the property and deal with the higher insurance and potential hazard or is it smarter to walk away?

Quote from @Tom Server: I’m looking for advice on the best way to access about $100k to pay off my 401k loan, credit card debt, and cover some rehab costs.Here the information-  I purchased 2 properties last year, 1 is a rental property that i had for about 8 months, the balance of the mortage is 170k, worth around 300k .

Asset sold was mainly transfer of client list and contracts.Does it make sense for me to seek out a note purchaser?

While not mandatory to purchase in an LLC, I would recommend it.

Any amount you purchase less than you sell, or any amount of cash you take out is considered to be profit. 

For purchase price, use this formula,  (Arv * .70%)- Rehab = Purchase Price Good evening Dustin, I went onto the webpage for Arizona association of Realtors and I found the agreement for 2024, however I am not licensed so I do not have access to download the contract.

I’m in the process of purchasing a second home in Aspen, CO, which will also serve as my first STR property.