You would have to leave your cash & your down payment "in" the deal for 6 months.Now...consider the idea of using hard money or private money to fund the purchase and the rehab on day 1 with none of your own money down. ....so there is none of your own cash in the deal.

I was then told there had been damage, and it would therefore not be refunded.I asked for evidence, and was sent photographs of a scratch and some scuffs to an elevator door surround, along with a note saying the area had 'just been painted'.I have no idea if these marks were there before.  

Then I had (what I thought was) a brilliant idea, Mobile home!

I currently own a few rentals in different states, but since getting my real estate license i have started looking at family and friends for prospecting new deals as a new agent.I have a family member who has been renting houses for as long as i can remember between her and her boyfriend, but they both have some bad credit due to falling behind a few years back after both losing their jobs and juggling life for a while tell they found new jobs.I am a bit unsure about this idea still due to the fact that i have been running numbers on multi-family homes to purchase in the near future and turn into rentals, but i want to help them if it's a viable idea...I wanted to get your opinion on maybe purchasing a house based on their needs and running a lease option on the house for them to purchase down the road when they have the credit again....Right now they are renting a 3/1/1 for $1200/month and there is a lot of 3bed houses around them that are in the 100k and below that would meet the needs of them, im just worried about buying the house for them tieing up my own money and not have enough financing available to continue purchasing investment properties as my rental income from all my current rentals is my only income coming in right now as i start the career of an agent.

I look forward to connecting with you and providing creative ideas and add value to this forum .Sincerely ,Debra 

Excited to learn and love the idea of partnering with a seasoned investor for a few deals sharing profits 50/50 if anyone is interested.  

The idea of closing the 1031 loophole has been proposed in Congress and the Senate for decades.

If it's a reputable wholesaler they typically would not use a shady title company Thanks Chris - I like your idea of having my own title search done too but I'm not sure if there would be time for that as these wholesale contracts usually close quickly. 

I'm wondering what it typically takes to refinance, and if it's a good idea to do so

So VRBO does my calendar, and mentions additional amenities provided as well.You can get an idea by looking on line and looking at properties to see what they are charging, how many days they are vacant and see if you can calculate how much you need during the off period.