I absorbed all I could from people on what wholesaling is... then I combed all that information through using the common sense comb.I took what made sense, and tweaked what didn't make logical sense and created my own system.But as you have noticed, wholesaling, in reality, is really simple.

thats far more than you will make starting out as an agent.. but once you get stateside and if you are successful at Commerical RE  takes 5 to 10 years to build your book.. then big income is a reality..  

Looks like you have 10 props, so reality is you will have 2 evictions. 

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?

But the perception of difficulty is greater than the reality usually.

I had bigger dreams than this and it was a reality check: ‘you’ll never become wealthy working at this company.’

In reality, the insurance payout reduces the adjusted basis.

YOu have math and then you have reality and personal preference..

It should go without saying, but I do understand when you're new to real estate expectations can be out of line with reality --- if you finance 100% of a deal you will not see any money out of the deal for many years and will be putting money in for many years.

Secondary financing is generally permitted, and the realities of the marketplace usually require the seller to carry financing for most buyers.